2 days ago
Trump Plans Venezuelan Crude Refill for 40%-Full US Reserve
The United States keeps extra oil in a large emergency storage system called the Strategic Petroleum Reserve.
It can hold more than 700 million barrels.
Right now, it contains about 289.7 million barrels, so it is only around 40% full.
President Donald Trump wants to add more oil to the reserve.
He plans to use crude oil from Venezuela for this effort.
The reserve became much less full during both Trump’s and Joe Biden’s time in office.
This means one president alone was not responsible for the decrease.
The low amount of stored oil is one reason Trump wants to refill it.
The United States Strategic Petroleum Reserve holds 289.7 million barrels.
The reserve has capacity for more than 700 million barrels and is roughly 40% full.
President Donald Trump plans to refill the reserve using Venezuelan crude.
The reserve’s decline occurred during both Donald Trump’s and Joe Biden’s terms.
The reserve’s low level helps explain why Trump is eager to replenish it.
- Who
- President Donald Trump and the United States Strategic Petroleum Reserve are central to the report; withdrawals occurred during both Donald Trump’s and Joe Biden’s terms.
- What
- Trump plans to refill the Strategic Petroleum Reserve with Venezuelan crude oil.
- Where
- The Strategic Petroleum Reserve is in the United States, while the planned crude source is Venezuela.
- When
- The reserve is currently reported to hold 289.7 million barrels; no specific date is provided.
- Why
- The reserve is only about 40% full, holding far less than its capacity of more than 700 million barrels.
Key facts
- Current holdings
- 289.7 million barrels
- Total capacity
- More than 700 million barrels
- Estimated fullness
- Roughly 40%
- Planned oil source
- Venezuelan crude
- Planned action
- Refill the Strategic Petroleum Reserve
- Administrations linked to withdrawals
- The Trump and Biden administrations
Sources
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