President Trump on August 28 announced a deal with Venezuela's interim President Delcy Rodríguez giving the US 55% effective control of a new joint venture holding 65 billion barrels of proven oil reserves on a 100-year lease. Negotiated by Rubio and Hegseth, the deal follows Maduro's capture and is expected to bring $100 billion in private investment to Venezuela.
Read Full ArticleSaudi Aramco has cut Arab Light crude prices for Asian buyers by $11 per barrel for August deliveries, the largest single-month price reduction in at least 26 years, as the Strait of Hormuz reopens, Brent retreats to $72, and a global supply surge shifts market power sharply toward buyers.
India cuts excise duty on petrol and diesel by ₹10/litre as global crude crosses $100, aiming to ease pressure on fuel prices and OMC losses.
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