Oil, Influence, and the Fading Empire The recent deal between the United States and Venezuela's National Assembly President Juan Guaido has sent shockwaves through the global energy market.
The US brokered agreement grants Washington significant concessions and control over Venezuela's oilfields, which had been a key prize for China.
Under the terms of the deal, the White House has secured 100 year concessions on 17 oilfields with an estimated 65 billion barrels of proven reserves.