09:00 - 31.08.2026

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August 31, Fineko/abc.az. U.S. President Donald Trump announced that the United States will use Venezuelan crude to replenish its Strategic Petroleum Reserve (SPR), with the process set to begin very soon.

In a social media statement regarding the recent oil agreement reached with Venezuela, Trump highlighted that one of his key priorities will be refilling the strategic petroleum reserves, which he claimed were nearly depleted under former President Joe Biden. Trump framed the arrangement as "a gift from Venezuela to the American people."

The announcement follows President Donald Trump's statement on August 29, in which he declared that the U.S. had entered into the "biggest oil deal in world history" with Venezuela, gaining control over the majority of Venezuela's more than 65 billion barrels of oil reserves.