The United States plans to replenish its Strategic Petroleum Reserve (SPR) with Venezuelan crude. On August 30, 2026, President Donald Trump announced that US interests had secured 55% control over more than 65 billion barrels of proven Venezuelan reserves, describing the deal as a gift from Venezuela to the American people. The SPR currently holds approximately 290 million barrels, representing about 44% of its total capacity of 714 million barrels, a 44-year low. This level represents less than 15 days of US consumption, which stands at roughly 20 million barrels per day. The agreement was structured as a private-sector partnership with no direct cost to US taxpayers.
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