Trump says Venezuelan oil deal will be used to refill U.S. Strategic Petroleum Reserve
President Trump said Venezuelan oil obtained under a new agreement would be used to replenish the U.S. Strategic Petroleum Reserve.
President Donald Trump said his administration would use oil from its agreement with Venezuela to refill the Strategic Petroleum Reserve. He said the replenishment would begin soon.
The administration says the broader agreement gives a U.S.-backed joint venture long-term concessions to Venezuelan oil fields. The reserve held about 289.7 million barrels in the week ending Aug. 21, according to federal data cited by The Hill.