Pakistan, Aug. 1 -- US President Donald Trump said Wednesday that his administration has struck a trade deal with Pakistan that includes joint development of the country's "massive" oil reserves.

"We are in the process of choosing the Oil Company that will lead this partnership. Who knows, maybe they'll be selling Oil to India someday!" Trump said on social media.

Additional details of the agreement were not immediately available; however, local experts welcome the development with a positive note.

Local oil industry experts see Trump's "massive" oil reserves statement with hope.

Muhammad Iqbal Jawaid, a Karachi-based oil industry expert, viewed the development as "encouraging" for Pakistan's "untapped" oil and gas sector, which has a...