India, Aug. 29 -- US President Donald Trump on Friday announced an agreement with Venezuela covering more than 65 billion barrels of oil reserves, calling it the "biggest oil deal in world history".

Trump said the agreement was worked out by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth with Venezuela's interim President Delcy Rodriguez.

"The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!" Trump said in a post on social media.

The announcement comes as the US looks to expand its role in Venezuela's oil industry, which has struggled for years with falling production, ageing infrastructure and a lack of investment.

The agreement is ...