Trump Says Venezuelan Oil Will Be Used to Fill Up Strategic Petroleum Reserve

The United States plans to use oil from Venezuela to replenish the Strategic National Reserve, which is at near-record lows. President Donald Trump announced the deal, stating the process will begin shortly. The agreement allows the U.S. government to gain control of approximately 65 billion barrels of Venezuela’s oil reserves.

• The U.S. will use Venezuelan oil to fill the Strategic National Reserve.
• The reserve has fallen to near-record lows.
• President Trump described the oil as a ‘Gift from Venezuela to the People of the United States.’
• The U.S. government will gain control of around 65 billion barrels of Venezuela’s oil reserves.