According to CoinMeta, as reported by Axios, the United States is in negotiations with the Venezuelan government, planning to acquire ownership shares in its vast oil resources. This deal is expected to double the size of the U.S. oil reserves and involves at least 17 promising oil and gas fields, which are estimated to have 90 billion barrels of proven reserves. Despite Venezuela's rich oil resources, its oil industry has never been fully developed; the current daily production is only 1.1 million barrels, far lower than the U.S.'s 13.7 million barrels. American oil companies will develop these fields and provide Venezuela with oil revenue.