President Trump Says Venezuela Oil Will Refill US Strategic Reserves Day After ‘Biggest Oil Deal In World History’ - Stocktwits
President Trump Says Venezuela Oil Will Refill US Strategic Reserves Day After ‘Biggest Oil Deal In World History’ - Stocktwits
Source: Stocktwits
―
DW NOTE
The SPR held 714 million barrels in January 2021. By March 2022 it was at 568 million after the Biden releases. Trump now proposes refilling it with Venezuelan crude—from a country that produced 3.5 million barrels per day in 1998 and barely manages 700,000 today after two decades of nationalization, price controls, and infrastructure collapse. Filling a strategic reserve requires a functioning oil industry on the other end.