US President: United States to refill Strategic Petroleum Reserve with Venezuelan crude

Washington, Aug 30 (KUNA) -- U.S. President Donald Trump said on Sunday that the United States will “soon” refill its Strategic Petroleum Reserve with Venezuelan crude, following the signing of what he described as the “largest” oil deal in history. In a post on his Truth Social platform, Trump said, “One of the things I will do with Venezuelan oil, as a result of the recent agreement, is to refill the U.S. Strategic Petroleum Reserve, whose levels have declined sharply in recent years.” He added that the process of “completing the refill” of the reserve would begin soon, describing the Venezuelan oil as “a gift from Venezuela to the American people.” Two days earlier, on Friday, President Trump announced that his country had signed an oil agreement with Venezuela that he called the “largest” in history, and that it would secure “U.S. control” over Venezuela’s oil reserves. The agreement aims to revive Venezuela’s heavily damaged oil sector, but will require significant investments and infrastructure work to boost production to higher levels. (End) A.M.M. / T.A.B.