Newsroom
Short, verified market news summaries; every item names its source and publication date.
Venezuela's parliament ratifies unprecedented 100 year oil deal with the United States
Venezuela's National Assembly ratified a bilateral energy agreement with the Trump administration in an extraordinary session on Tuesday, September 1, 2026 (10 Shahrivar 1405), ahead of a planned visit to Caracas by US Energy Secretary Chris Wright. According to ISNA, citing Reuters, the deal gives the American company North American Blue Energy Partners rights to develop 17 Venezuelan oil fields under a 100 year lease, covering roughly one fifth of the country's oil reserves. Donald Trump called the deal the biggest oil agreement in history on August 28 (6 Shahrivar), and Venezuela's interim President Delcy Rodriguez the same day called it a turning point in relations with the United States. She said the project has the potential for 65 billion barrels of oil, more than $100 billion in investment, and more than $209 billion in tax revenue for the government.
Donya-e-Eqtesad, citing ISNA and Reuters
Rodriguez: Venezuela's 25 Year Oil Deal With the US Covers Development of 17 Oil Fields
Venezuela's interim president Delcy Rodriguez announced details of a 25 year oil deal with the United States on Monday, 9 Shahrivar 1405 (August 31, 2026). According to RT, carried by Donya e Eqtesad, the deal covers the development of 17 strategic Venezuelan oil fields with the goal of producing more than 1.5 million barrels per day. Rodriguez said Venezuela would receive 19 dollars for every barrel of oil produced and sold to the United States, which at a reference price of 65 dollars a barrel would generate about 209 billion dollars a year for Venezuela, equal to 21 percent of the country's total proven reserves of 303 billion barrels. Rodriguez stressed that Venezuela retains ownership and sovereignty over its oil resources, with the United States providing the capital and technology needed to rebuild the country's oil industry. US President Donald Trump called the deal "the biggest oil deal in world history" and said the United States had secured control of more than 65 billion barrels of proven reserves at no cost to American taxpayers.
Donya-e-Eqtesad, citing RT
Delcy Rodriguez: Venezuela-US Energy Deal Set for 25 Years
Venezuela's interim President Delcy Rodriguez said on Saturday, August 29, 2026 (7 Shahrivar 1405), that the energy agreement between Caracas and Washington, unveiled days earlier when Donald Trump announced US control of more than 65 billion barrels of Venezuela's oil reserves, has been set for a 25 year term. According to Tasnim News Agency, she said the deal's goal is to raise Venezuela's oil output to 1.5 million barrels per day, while stressing that Caracas will maintain sovereignty over its natural resources. The Financial Times had earlier reported, citing a US official, that under the agreement US private companies secured a 55 percent stake in oil production from the joint venture with Venezuela, with some extraction rights granted to American companies for periods of up to 100 years. Venezuela holds the world's largest proven oil reserves, though its current output is estimated at roughly 1.2 to 1.25 million barrels per day according to earlier reports.
Ecoiran, citing Tasnim
US Secures Control of More Than 65 Billion Barrels of Venezuela's Oil Reserves
US President Donald Trump announced a deal on Friday, August 28, 2026, under which the United States gains majority control of more than 65 billion barrels of Venezuela's proven oil reserves, a figure he said would more than double America's effective reserves. Secretary of State Marco Rubio called the agreement a huge win for both countries, saying it would bring roughly 100 billion dollars in private investment and 209 billion dollars in tax revenue for Venezuela. Under the deal the US government retains 55 percent control of a joint venture with an experienced private operator in Venezuela, and full contract details have not been released. The agreement, covering 17 oil fields including the Orinoco Belt, comes as US gasoline prices have risen because of the Iran war, adding domestic pressure on Trump to bring prices down. Some analysts, including Rachel Ziemba of the Center for a New American Security, cautioned that given Venezuela's aging infrastructure and current output of about 1.2 million barrels a day, the deal is unlikely to have a material effect on global oil supply in the near term.
BBC News
Venezuela, One of OPEC's Founders, Is Weighing an Exit From the Group
According to Oilprice.com's Julianne Geiger, citing Bloomberg, in a report published Friday, 7 Shahrivar 1405 (August 28, 2026), Venezuela is weighing whether to leave the Organization of the Petroleum Exporting Countries (OPEC), more than six decades after it helped found the group as one of its five original members. People familiar with the discussions, who have also been in contact with US officials, said no final decision has been made. Venezuela produced about 1.117 million barrels a day in July and is currently exempt from OPEC production quotas following years of sanctions and declining output. A potential Venezuelan exit would come just months after the United Arab Emirates left OPEC, and the report said Iraq could also reconsider its membership if an ongoing capacity review does not yield a higher production quota. The UAE, Venezuela and Iraq together hold more than 7 million barrels a day of production capacity, about 32% of OPEC's total. Separately, US and Venezuelan officials are discussing a possible 100-year lease on several of the country's oil fields.
Oilprice.com, citing Bloomberg
Trump Announces What He Calls the Biggest Oil Deal in History With Venezuela
US President Donald Trump announced on Friday, August 29, 2026 (7 Shahrivar 1405), on Truth Social what he called the "biggest oil deal in world history" with Venezuela. He said the agreement secures majority US control of more than 65 billion barrels of Venezuela's proven oil reserves and "more than doubles American oil reserves." According to Al Jazeera, the deal was negotiated by Secretary of State Marco Rubio and Secretary of War Pete Hegseth, working with Venezuela's interim President Delcy Rodriguez. The agreement is expected to bring about $209 billion to Venezuela's state treasury, and Rubio said it would also bring nearly $100 billion in private investment to the country. Venezuelan officials are preparing to sign new exploration and production agreements next week, mostly with US companies. Venezuela holds the world's largest proven oil reserves but currently produces only 1.25 million barrels per day. The prospect of more Venezuelan crude reaching the global market, alongside the recovering flow of Persian Gulf oil exports through routes bypassing the Strait of Hormuz, is a factor in the global oil supply balance and a potential competitive pressure on exporters such as Iran.
Al Jazeera
Long Term Access to 17 Venezuelan Oil Fields on the Table in US-Caracas Talks
According to Reuters, carried by Donya-e-Eqtesad on Friday, 6 Shahrivar 1405 (August 28, 2026), the United States and Venezuela have moved close to a deal under which American companies would gain long term access to a number of selected Venezuelan oil fields. The report said the proposal could cover up to 17 oil fields, including some in the Orinoco Belt and Lake Maracaibo, with US energy companies likely to compete for development rights. Final details remain unclear, and experts say such a deal could face legal and constitutional challenges. US Energy Secretary Chris Wright is expected to travel to Caracas as early as next week to discuss the plan. Oilprice.com had separately reported on Thursday, 5 Shahrivar (August 27), citing senior US officials, that the Trump administration is in talks with Venezuela's interim government to acquire a direct US ownership stake in key Venezuelan oil fields.
Donya-e-Eqtesad, citing Reuters
Panama Canal to Cut Daily Ship Transit Caps From September 4 Ahead of El Nino Drought
The Panama Canal Authority said on Thursday, August 20, 2026, that to address concerns over lower water levels from the El Nino weather phenomenon, it will cut the daily ship transit cap to 34 vessels starting September 4 (13 Shahrivar), falling further to 32 vessels per day from September 15 (24 Shahrivar). According to Al Jazeera, the canal, which handles about 5 percent of global maritime trade, has averaged 35 daily transits since June, against its usual capacity of about 40 vessels a day. The move reverses an earlier position, when canal officials told Reuters in May they had no plans to limit crossings this year, citing water conservation measures implemented last year. Al Jazeera noted that a severe 2023 drought, also attributed to El Nino, cut Panama Canal traffic by roughly 36 percent and caused widespread global supply chain disruption; meteorologists expect the coming El Nino to be among the strongest on record.
Al Jazeera
Tankers Wait Up to a Month to Load Venezuelan Oil as Exports Hit a Ceiling Near 1.25 Million Barrels a Day
According to a Reuters report carried by Oilprice.com on Friday, 30 Mordad 1405 (August 21, 2026), even as buyers have returned to Venezuela's oil market, the country's aging port infrastructure is preventing a meaningful rise in exports, with some tankers waiting as long as 30 days to load. Old terminals, power outages and crude quality problems have created a de facto export ceiling of around 1.25 million barrels a day. The report said state oil company PDVSA and its partners have been unable to push exports meaningfully above that level in recent months despite rising production, inventory drawdowns and strong demand. Venezuela holds one of the world's largest proven oil reserves, and its infrastructure constraints are slowing the pace of its return to the global oil market, a trend that matters for the global supply balance relevant to other exporters including Iran.
Oilprice.com, citing Reuters
Lundin Mining Cuts Caserones Copper Output Forecast After Second Chile Winter Storm
Canadian miner Lundin Mining, according to Boursenews, published Thursday, August 20, 2026 (29 Mordad 1405), cut its 2026 full year copper production forecast for the Caserones mine from 130,000 to 140,000 tons down to 120,000 to 130,000 tons, after a second severe winter storm hit its operations in Chile's Atacama region. The storm, which began on August 13, brought heavy rain at lower elevations and unusually heavy snow and strong winds in the Andes, and on August 14 again knocked out power at the mine after a transmission tower already damaged in the first storm was hit again. The company also raised its cash cost forecast for the mine from 2.05 to 2.25 dollars a pound to 2.15 to 2.35 dollars a pound. CEO Jack Lundin said that after the first storm the company had expected the production impact to stay at the lower end of its initial guidance range, but the second severe storm disrupted the recovery process and caused further unplanned operational stoppages. With the revision, Lundin Mining also lowered its consolidated copper production guidance to 300,000 to 325,000 tons.
Boursenews
El Salvador's Government Bitcoin Holdings Reach 7,743 BTC as Daily Purchases Continue
The government of El Salvador continues to purchase bitcoin almost daily, and according to a report published today, Monday, 26 Mordad 1405 (August 17, 2026), by ArzDigital, its holdings now stand at 7,743 bitcoin, worth about 490 million dollars. Per the report, the country has never sold a single unit of its bitcoin holdings since launching its government purchase program. The trend shows El Salvador's government remains committed to its long term bitcoin accumulation strategy, even as the global bitcoin price trades today near 62,900 dollars. Zero sales since the program began has made the country one of the world's most closely watched government bitcoin holders.
ArzDigital
Brazil's Central Bank Mandates 24-Hour Delay for Crypto Transfers Above $10,000
Brazil's central bank has issued new rules requiring any single crypto transaction, or the daily total of transactions, above $10,000 to go through a 24-hour waiting period before final approval. The rule, published as Resolution No. 584 of 2026, covers transfers to foreign exchanges and personal wallets and takes effect January 1, 2027. Under the resolution, virtual asset service providers must run risk analysis on suspicious transactions, and funds are released before the 24-hour window ends only if no security risk or evidence of fraud is found. Major Brazilian crypto associations, including Abcripto, which represents firms such as Binance, Coinbase, and Tether, have criticized the rule, arguing the delay harms legitimate users more than it deters criminals.
ArzDigital
Argentina's Maritime Pilots Strike Halts Grain Exports, Stranding More Than 45 Vessels
A strike by Argentina's maritime pilots has blocked ships from entering and leaving the country's grain ports since Monday, disrupting trade for the world's top soybean product exporter and a major corn and wheat supplier, Al Jazeera reported. Gustavo Idigoras, president of the CIARA CEC business chamber, said at least 45 vessels had been affected by the protest as of Tuesday. The strike began after Argentine President Javier Milei's government issued a decree the preceding Friday deregulating river pilotage services. Argentina's coastguard ordered the pilots back to work on Tuesday through a notice in the country's official gazette, warning of possible disciplinary action. Most of Argentina's grain shipments move through the Parana River, so any bottleneck at its ports poses a significant risk to global food markets. Al Jazeera published this report on Saturday, August 8, 2026.
Al Jazeera
Argentina's maritime pilots strike halts the country's grain exports
A strike by Argentina's maritime pilots has prevented ships from entering or leaving the country's grain ports along the Parana River since Monday, 12 Mordad 1405 (3 August 2026). According to Al Jazeera, Argentina is the world's largest exporter of soybean products and a major exporter of corn and wheat, so any bottleneck at its ports affects global food markets. The strike began after the government of President Javier Milei issued a decree on Friday, 9 Mordad (31 July), deregulating river pilotage services. Gustavo Idigoras, president of the CIARA-CEC business chamber, said on X that at least 45 vessels had been affected by the protest. Argentina's coastguard on Tuesday, 13 Mordad, ordered the pilots back to work through a notice in the official gazette, warning of possible disciplinary sanctions.
Al Jazeera
Venezuela's oil exports fall to 1.16 million barrels per day in July while shipments to the US hit a seven year high
Venezuela exported 1.16 million barrels of crude oil per day in July 2026, a slight decline from 1.2 million barrels per day in June, attributed to lower withdrawals from storage. According to a Reuters report relayed on Tuesday, 4 August 2026 (13 Mordad 1405), the country's exports to the United States rose over the same month. Exports to the United States, Venezuela's biggest oil destination, averaged 786,000 barrels per day in July, the highest since early 2019. US imports from Venezuela have climbed steadily since the removal of President Nicolas Maduro in January, starting from 284,000 barrels per day in the first month of the year. Shipments to other destinations declined: to India from 277,000 to 178,000 barrels per day, and to European importers from 99,000 to 82,200 barrels per day. Venezuelan crude exports had peaked at 1.24 million barrels per day in May. According to the report, exports of Venezuelan oil have generated some $13 billion since January, held by the United States, which assumed de facto control of the country's oil industry after the events of January. US Energy Secretary Chris Wright put the export figure at 150 million barrels in April. The Financial Times reported last month, citing economists, that there is little evidence of economic recovery in Venezuela itself.
Oilprice.com, citing Reuters
Maritime pilots' strike halts Argentina's grain exports, with at least 45 vessels affected
A strike by maritime pilots in Argentina has stopped ships from entering and leaving the country's grain ports, disrupting one of the world's leading grain suppliers. Argentina is the largest exporter of soya bean products and a major exporter of corn and wheat, with most shipments moving through ports along the Parana River. The pilots walked off the job on Monday, 3 August 2026 (12 Mordad 1405), after the government published a decree on Friday, 31 July, deregulating river navigation services. The decree, signed by Argentinian President Javier Milei, calls for streamlining procedures, modernising regulatory requirements and eliminating obsolete or disproportionate regulations. A union representing the workers has warned that the decree could cut demand for Argentinian pilots and put their jobs at risk. Gustavo Idigoras, president of the business chamber CIARA-CEC, said at least 45 vessels had been affected by the action and added that if the dispute was not resolved by Tuesday, about 30 more ships would join that list. Argentina's coastguard on Tuesday, 4 August, ordered the pilots back to work through a notice in the country's official gazette, warning of possible disciplinary sanctions. Any bottleneck at Argentina's ports feeds through to global food markets, a variable that also matters for Iran, which imports much of its animal feed inputs.
Al Jazeera
Brazil's Petrobras raises jet fuel prices again from August
Brazil's state oil company Petrobras announced on Saturday 1 August 2026 (10 Mordad 1405) that it is raising jet fuel prices from August. This is the second such increase by Petrobras for the product. Jet fuel is one of the products whose price tracks crude oil costs and refining margins directly. The increase in Brazil, Latin America's largest economy, comes at a time when the global market for oil products is under pressure from supply disruption. Fuel is the single largest operating cost for airlines, and increases usually pass through to ticket prices with a lag.
Shana
Colombia's central bank holds its policy rate at 12% as June inflation rises to 6.1%
Colombia's central bank left its benchmark interest rate unchanged at 12% on Friday 31 July 2026. The bank said annual inflation rose to 6.1% in June, driven by higher food and regulated prices, while core inflation held steady at 6.0%. According to the statement, inflation expectations for the end of 2026 and 2027 increased to 6.6% and 5.0% respectively, with market-based expectations remaining above 6.0%. The bank also said economic activity strengthened in the second quarter, supported by robust growth in the services sector, and it maintained its 2026 GDP growth forecast at 2.5%. The unemployment rate fell to 8.0% in June. The central bank added that a stronger Colombian peso has helped ease inflationary pressures, but that risks from the West Asia conflict and a potential El Niño event could fuel inflation and weigh on growth, with future policy decisions remaining data dependent. Colombia is one of Latin America's oil producers, and its central bank's explicit reference to the West Asia war shows how far the region's energy shock has reached into monetary policy in distant countries.
Trading Economics (data from Central Bank of Colombia)
Trump says the US has sold more than $13 billion of Venezuelan oil
US President Donald Trump said on Monday, 27 July 2026, that the United States has sold more than $13 billion of Venezuelan oil since taking control of that country's energy exports. According to CNBC, the remarks followed the capture of Nicolas Maduro. Venezuela holds one of the world's largest proven oil reserves, and the return of significant volumes of its crude to the global market can affect the supply balance, a matter of consequence for oil exporters including Iran.
CNBC
Brazil's Ibovespa jumps 2.97 percent to its highest since mid-May
Brazil's Ibovespa jumped 2.97 percent to 177,866 points on Friday, 10 July, its best session in weeks and highest level since 14 May. Softer-than-expected June inflation data revived expectations of another interest-rate cut at the central bank's 4 to 5 August meeting; banks and retailers led the advance. The Brazilian real was little changed at 5.11 per dollar.
The Rio Times
Petrobras Jumps 1.8% as Oil Rallies and Brazilian Real Firms; Vale Sheds 4.6% on Weak Iron Ore
In Brazilian market trading reported by Rio Times Online on Thursday, July 9, 2026 (18 Tir 1405), Petrobras shares rose 1.8% as global oil prices jumped on renewed Iran-US tensions and heightened risk of a Strait of Hormuz shutdown. The United States had said around the same time that it was revoking Iran's oil-sales waiver following recent attacks on tankers in the strait. By contrast, shares in Vale, the world's largest iron ore exporter, fell 4.6% on $413 million in turnover, the most-traded stock on Brazil's B3 exchange, pressured by soft global iron ore prices. The dollar-real exchange rate eased on the day to 5.1157 reais. Brazil's annual inflation rose past 4.8% in the first half of June 2026, above the central bank's 4.5% upper target.
Rio Times Online