Trumps says Venezuelan oil will fill up' US petroleum reserve

U.S. President Donald Trump said Venezuela oil will be used to "fill up" the Strategic Petroleum Reserve following the countries' oil deal.

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.

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