A new oil agreement between Venezuela and the United States will see a portion of revenue from every barrel of oil sold to American buyers redirected to Venezuela’s government, according to the interim president. The arrangement, which specifies $19 per barrel, marks a shift in how oil profits are allocated under the current administration. Critics may question whether the funds will be used for public benefit or to stabilize the country’s struggling economy. The deal could also influence global oil markets by altering supply dynamics between the two nations.
Under the deal, $19 from every barrel of oil sold to the US will flow to Caracas, interim President Rodriguez says.
