Donald Trump asserted on the eve of the midterm elections that the United States has "total control" over Venezuela and that the combined oil reserves of both countries exceed 50% of the world's total. The figure regarding oil reserves contradicts the official data from OPEC.
The statements were made on Monday during interviews with Fox News, according to reported by the agency EFE. “We have complete control over Venezuela. We have our people there. We have a lot of oil,” the president asserted.
"When we combine the oil from the United States and Venezuela, we have more than 50% of the world's oil. To put it another way: we now have more than Saudi Arabia, Russia, and the next largest country combined. No one thought that was possible," Trump stated.
The 2026 OPEC report indicates that the proven reserves of the United States and Venezuela together account for approximately 22% of the global total, well below the percentage mentioned by Trump.
Experts consulted by Associated Press in October also noted that Venezuelan crude—mostly extra heavy and concentrated in the Orinoco Belt—faces significant extraction challenges, and the volume that is actually recoverable could represent only between 20% and 40% of the official figure.
At a rally held on Sunday, November 1, in Dubuque, Iowa, Trump also referred to the military operation of January 3, 2026, which culminated in the capture of Nicolás Maduro. The president described it as "a one-day war" in which, he claimed, "no one died," despite the casualties acknowledged by Cuban and Venezuelan authorities.
Venezuelan verification organizations, such as Monitor de Víctimas and La Hora de Venezuela, confirmed the death of 77 people in that military operation: 42 Venezuelans, 32 Cubans, and three civilians.
After Maduro's capture, the Venezuelan government was led by the interim president Delcy Rodríguez. In August 2026, Trump announced "the largest oil deal in history", linked to the company North American Blue Energy Partners (NABEP).
According to the White House, the agreement includes concessions on 17 Venezuelan oil fields with approximately 65 billion barrels of proven reserves and grants the Strategic Capital Office of the U.S. Department of War a 35% equity stake in the parent company of NABEP.
The statements made on Monday come at a time of significant economic distress in the United States. The average price of regular gasoline rose from $2.98 to $4.25 per gallon—an increase of 42.4%—attributed to the armed conflict with Iran, according to data from Brown University based on records from the American Automobile Association.
EFE highlighted that a survey by the Pew Research Center published in October revealed that 74% of Americans are very concerned about gasoline and energy prices, compared to 43% recorded in January.
Additionally, another AP-NORC poll from the same month revealed that 79% of voters disapprove of Trump's handling of the cost of living, and 84% deem this issue decisive for their vote.
The elections this Tuesday will renew the 435 seats in the House of Representatives and determine the composition of one-third of the Senate, shaping up to be a referendum on the first half of Trump's second term.
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