Trump to refill SPR with Venezuelan oil

President Donald Trump announced that oil from a recently agreed deal with Venezuela will be used to replenish the U.S. United States — Strategic Petroleum Reserve (SPR), which is at a 40-year low of about 289.7 million barrels. Trump called the oil a 'gift' and said the 'topping out' process would begin shortly. The deal, announced on August 28, gives the U.S. control over 65 billion barrels of Venezuela's proven reserves through a joint venture with private businesses, with the U.S. holding a 55% controlling interest. Venezuelan interim President Delcy Rodríguez confirmed the 25-year agreement, which aims to produce over 1.5 million barrels per day. The move follows the U.S. capture of former President Nicolás Maduro in January and represents a major shift in U.S.-Venezuela energy relations. Analysts note challenges including Venezuela's ageing infrastructure and the heavy, high-sulfur nature of its crude, which may not be suitable for the SPR's salt caverns. The U.S. Department of Energy had previously said it was not considering Venezuelan crude for the reserve.