Trump pushes Venezuelan oil to refill U.S. strategic reserves under new deal
TL;DR Summary
Trump announced a 25-year deal with Venezuela to supply oil for refilling the U.S. Strategic Petroleum Reserve, which has been drawn down amid disruptions. The plan envisions Venezuela developing 17 oil fields and eight blocks with a 1.5 million barrels per day target and sending about $19 per barrel to Caracas, but it’s unclear how quickly any oil would reach the reserve or translate to near-term relief for motorists.
- Trump says US will refill its petroleum reserves using Venezuelan oil Al Jazeera
- Trump just brokered a deal with the country sitting atop the world’s largest oil reserves Fox News
- Trump’s Venezuelan Oil Deal Relies on a Powerful and Divisive Partner The New York Times
- Venezuela vowed not to ‘hand over’ its oil. Trump aims to grab a windfall. The Washington Post
- Exclusive | Inside Trump’s Plan to Give the Pentagon a Stake in Venezuela’s Oil Riches WSJ
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