Trump Announces $8.4 Billion Oil Deal With South Korea

Donald Trump announced on Friday that a deal with South Korea includes an $8.4 billion enhanced oil recovery project. The president used his Truth Social account to state that the project aims to increase oil and gas production to ensure "American Energy Dominance and Energy Security in the World for the Future."

Enhanced oil recovery typically involves injecting carbon dioxide into oil reservoirs to increase production from existing fields. Trump described the ongoing negotiations as a process where the Republic of Korea deal "keeps getting BETTER!"