Experts Challenge Venezuela’s Reported Oil Reserve Figures
Experts are challenging the accuracy of Venezuela's reported 303 billion barrels of oil reserves and the Trump administration's claim that a recent US deal would secure control over 65 billion barrels, stating that realistic proven reserves are significantly lower and…
Anchorage, AK, October 22, 2026 —
Experts are challenging the accuracy of figures that put Venezuela’s oil reserves at 303 billion barrels, saying realistic estimates of proven reserves are significantly lower and that the underlying data is problematic.
The dispute also concerns a Trump administration claim that a recent U.S. deal would secure control over 65 billion barrels. The summary of the issue does not provide details of the deal or explain how the administration arrived at that figure. It also does not specify what form of control the claim refers to.
The two figures are not presented as equivalent: one is a reported total for Venezuela’s oil reserves, while the other is the amount the administration said the deal would place under U.S. control. Experts’ criticism, as described, focuses on the reliability of the reserve data and on the gap between the reported total and what they consider realistic proven reserves.
The experts, their specific estimates and the evidence behind their assessment were not identified in the information provided. No details were included about the original data, how it was compiled, or which parts experts consider problematic. The timing and terms of the U.S. deal were also not specified.
As a result, the available information establishes that the headline reserve figure and the administration’s claim are being disputed, but it does not provide enough detail to independently compare the competing estimates or assess the deal’s scope. The central point of disagreement is whether the reported figures accurately reflect proven reserves and the amount covered by the deal.
Story summarized from the original created by Regina Garcia Cano and Collin Binkley, Associated Press on www.adn.com, see more information here.
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