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The Economic Times
The Economic Times

Trump to replenish US oil reserves with Venezuelan crude; 'topping out' process to begin shortly

United States Venezuela Oil Donald Trump Petroleum

US President Donald Trump on Sunday said the United States would use Venezuelan oil to replenish its Strategic Petroleum Reserve (SPR), claiming the reserve had been “virtually emptied” under the previous Joe Biden administration.

“One of the things I am going to do with the Venezuelan Oil is fill up the Strategic National Reserves,” Trump said in a post, adding that the “topping out” process would begin shortly and describing the oil as a “Gift from Venezuela to the People of the United States.”

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