Venezuela's Oil Deal: A Desperate Gamble in a World on Fire The US has agreed to take control of 65 billion barrels of Venezuelan oil reserves.
On its face, this deal seems like a game changer for the US energy market, which is grappling with rising gas prices and declining domestic production. Gas prices have surged to an average of $4.
09 per gallon in the US, a staggering 58% increase from last year's average price of $3. 21.