Tags: venezuela | oil | u.s. | emergency | reserves | strategic | spr

US May Use Venezuelan Oil for Emergency Reserves

US May Use Venezuelan Oil for Emergency Reserves
Fishermen pass an oil tanker in the Gulf of Venezuela off the shore of Punta Cardon, Venezuela, Jan. 14, 2026. (Matias Delacroix/AP)

Friday, 16 January 2026 02:27 PM EST

The U.S. Department of Energy is exploring a plan to exchange heavy Venezuelan oil for U.S. medium, sour crude to fill up the ‍Strategic Petroleum Reserve, two sources said Friday.

The Trump administration is looking to move the Venezuelan crude ⁠into storage tanks at the Louisiana Offshore Oil Port from where the crude can ​be shipped to refineries.

In exchange for the Venezuelan crude, companies will provide U.S. medium sour crude ‍that can go directly into SPR storage, two ⁠sources said.

Exchanges have been used in the past by the government to release and acquire oil.

Typically in an exchange, an oil refiner ⁠borrows SPR crude ​oil for ⁠a short time period, due to events such as hurricanes ‍or temporary supply disruptions, and later replaces it in full, ‌along with a premium of an additional quantity of oil.

The Department of Energy did not ⁠immediately ​reply to ‍a request for a comment.

© 2026 Thomson/Reuters. All rights reserved.


StreetTalk
The U.S. Department of Energy is exploring a plan to exchange heavy Venezuelan oil for U.S. medium, sour crude to fill up the Strategic Petroleum Reserve, two sources said Friday.
venezuela, oil, u.s., emergency, reserves, strategic, spr
152
2026-27-16
Friday, 16 January 2026 02:27 PM
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