US President Donald Trump stated that large US oil companies are moving into Venezuela, which holds the world's largest oil reserves at 300 billion barrels, placing the US in control of these reserves, according to a post by KobeissiLetter on X over the past hour ending at 7:16 PM UTC on January 3, 2026. KobeissiLetter posted: "In case you don't realize what just happened: Venezuela holds the LARGEST oil reserves in the world, at 300 billion barrels. The US is now 'running' Venezuela with large US oil companies moving in, according to Trump. The US now controls the largest oil reserve in the world." This statement occurred during the 59-minute reporting window from 6:16 PM to 7:16 PM UTC. Exilenova+ reported a road accident during the same period, though no further details were provided in the update.
