Energy

Venezuelan Oil Will Be Used to Refill US Reserve, Trump Says - Energy Connects

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DW NOTE

Trump's plan to refill the Strategic Petroleum Reserve with Venezuelan crude is less about energy security than about declaring the sanctions regime dead. The U.S. emptied the SPR to suppress domestic gasoline prices in 2022, then kept Venezuela under embargo while global supply fell 4.3 million barrels per day this year. Now it wants Caracas oil at a discount to rebuild the reserve it drained for electoral convenience. Maduro wins, U.S. taxpayers lose twice.

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Gulf Producers Find Workarounds As Hormuz Tensions Persist

Kuwait’s crude oil exports have rebounded to about 1 million barrels per day (bpd), recovering to two-thirds of the 1.6 million bpd shipped through the Strait of Hormuz before the Iran war, according to a senior official at state-owned Kuwait Petroleum Corporation (KPC). Kuwait has managed to ramp u

Venezuelan Oil Will Be Used to Refill US Reserve, Trump Says - Energy Connects

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