Trump says US will refill Strategic Petroleum Reserve using Venezuelan oil

The US reserve sits near a 44-year low at about 290 million barrels as a new Venezuela deal seeks to lift crude supply.

U.S. President Donald Trump said on Sunday that oil ​from a recently struck deal with Venezuela ‌will be used to replenish the Strategic Petroleum Reserve, which has been drawn down sharply in recent ​years to respond to global supply ​disruptions and high fuel prices.

President Donald Trump says in a post that the 'topping out' process will ‌begin shortly.

US President Trump announced a deal to secure Venezuelan oil for the US reserve. This oil will be used to refill the Strategic Petroleum Reserve. The agreement involves developing untapped oil fields in Venezuela. Significant investment is needed before Venezuelan production can increase. The immediate impact on US

The U.S. has sealed a deal with Venezuela to control more than 65 billion barrels of its proven oil reserves and America's strategic national stocks are set to benefit, President Donald Trump announced Sunday.

It is unclear how quickly the Venezuela deal could provide oil for the reserve or deliver any near-term benefit to U.S. motorists

Trump says US will refill Strategic Petroleum Reserve using Venezuelan oil  Reuters