Trump says Venezuelan oil will replenish Strategic Petroleum Reserves
President Donald Trump said on Sunday that Venezuelan oil will replenish the United States’s Strategic Petroleum Reserves after announcing a historic deal with the country on Friday.
TL;DR
- Donald Trump announced a deal to use Venezuelan oil to refill the U.S. Strategic Petroleum Reserves.
- The U.S. has assumed significant control of Venezuela after a military operation and the capture of Nicolas Maduro.
- The deal secures majority U.S. control of over 65 billion barrels of Venezuelan oil reserves.
- Trump stated the transaction will lower gas prices for all Americans and strengthen U.S.-Venezuela relations.
- The Strategic Petroleum Reserve recently hit a 44-year low, with the Trump administration blaming Biden for releases after the Ukraine invasion.