US EditionUS not currently considering using Venezuelan oil in exchange to fill strategic reserve, Energy Department says
The swap proposal aims to resolve crude quality mismatches hindering Strategic Petroleum Reserve refills, with inventories at just under 400 million barrels, about half capacity.
- Update 1/16/26, 3:35 p.m. ET: The U.S. Department of Energy is weighing a crude-for-crude swap to refill the Strategic Petroleum Reserve by moving Venezuelan heavy crude into commercial storage and sending U.S. medium sour crude into SPR caverns.
- The reserve was built for medium and heavy sour barrels, so U.S. light, sweet shale crude creates a refill mismatch that has complicated efforts since the 2022 price spike; inventories sit just under 400 million barrels with over 300 million barrels to fill, making purchases costly.
- Logistically, the idea is a crude-for-crude swap that officials describe as a logistical sleight of hand rather than a straight purchase, with physical exchanges uncommon and Venezuelan heavy crude requiring blending and specialized handling that could risk Louisiana storage infrastructure.
11 Articles
11 Articles
US not currently considering using Venezuelan oil in exchange to fill strategic reserve, Energy Department says
The U.S. government is not currently considering using Venezuelan oil in an exchange with U.S. oil companies to refill the country's Strategic Petroleum Reserve, the Department of Energy said on Friday.
Video - The world's leading producer of crude oil, however, the United States continues to import it. A paradox that is explained by a key point: for the American economy, the issue is not only the volume available but also the quality of the oil.
Trump Admin Considers Venezuelan Oil Swap to Fill Strategic Petroleum Reserve.
PULSE POINTSWHAT HAPPENED: The Trump administration is considering an agreement to exchange heavy Venezuelan oil for U.S. medium-sour crude to fill the U.S. Strategic Petroleum Reserve (SPR).WHO WAS INVOLVED: The U.S. Department of Energy, President Donald J. Trump, U.S. oil companies, and Venezuela.WHEN & WHERE: The proposal was first reported on Friday, January 16, 2026.IMPACT: The oil swap would be used to fill the SPR with ready-to-use Ameri…
US Explores Plan to Swap Venezuelan Oil for Crude to Fill Emergency Reserve
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 on Friday.The Trump administration is looking to move the Venezuelan…
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