Trump's touted record Venezuela oil deal is now running into reality. For oil, the trade is barrels versus announcement: until actual flows prove out, the headline is a risk premium, not a supply fix.

What happened: President Trump described a Venezuela oil deal as the biggest in history, covering 17 oilfields and 64 billion barrels of reserves, with delivery falling to North American Blue Energy Partners, led by Alejandro Betancourt. Key numbers: 17 oilfields; 64 billion barrels of reserves; U.S. Why it matters: The deal's delivery depends on a little-known firm whose leader was until recently a target of U.S. money-laundering investigations involving funds embezzled from PDVSA, and the company says it will lift output fourfold.

President Trump described a Venezuela oil deal as the biggest in history, covering 17 oilfields and 64 billion barrels of reserves, with delivery falling to North American Blue Energy Partners, led by Alejandro Betancourt.

The deal's delivery depends on a little-known firm whose leader was until recently a target of U.S. money-laundering investigations involving funds embezzled from PDVSA, and the company says it will lift output fourfold.