The Trump administration is exploring a swap of heavy Venezuelan crude for U.S. medium sour barrels to refill the Strategic Petroleum Reserve. This logistical workaround aims to address the mismatch of oil types in the reserve, which currently holds just under 400 million barrels, less than half its capacity. The plan involves storing Venezuelan crude at the Louisiana Offshore Oil Port while U.S. producers supply the reserve with medium sour crude.
Sign in to access complete coverage, AI analysis, and related companies.
Sign In to Continue