New Delhi, Aug. 29 -- The United States and Venezuela had entered into what President Donald Trump has dubbed the 'biggest oil deal in history'.

The deal with the South American nation will give the United States control over more than 65 billion barrels of proven crude oil reserves.

"The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY! At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, and, through a partnership with private business, have secured majority U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela...