Trump says US will refill its petroleum reserves using Venezuelan oil

Author: Al Jazeera StaffPublished on: August 30, 2026Country: United States
PoliticsBusiness & Economy
Trump says US will refill its petroleum reserves using Venezuelan oil

US President Donald Trump announced on social media that a recently struck deal with Venezuela will allow the United States to replenish its Strategic Petroleum Reserve. The 25-year agreement will enable Venezuela to develop its oil industry while retaining sovereignty over its resources. Currently, the US reserve stands at about 290 million barrels, near a 44-year low.

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