Trump says US will replenish strategic reserve with Venezuelan oil
President Donald Trump said Venezuelan oil from a new bilateral deal will be used to refill the US Strategic Petroleum Reserve, though he gave no timetable.
Trump said the replenishment would begin soon but did not specify how quickly Venezuelan oil could reach the US reserve. Al Jazeera reported the stockpile held about 290 million barrels as of August 21.
Venezuela's interim president said the 25-year agreement covers development of 17 oilfields and eight new oil blocks while Venezuela retains ownership of its resources.