US EditionUS not currently considering using Venezuelan oil in exchange to fill strategic reserve, Energy Department says
The DOE plan would swap Venezuelan heavy crude in commercial storage for U.S. medium sour crude to refill the SPR more efficiently, with over 300 million barrels remaining to fill.
- On 1/16/26 the U.S. Department of Energy was reported to be weighing a plan to swap heavy Venezuelan oil for U.S. medium sour crude to refill the Strategic Petroleum Reserve, Reuters said.
- The SPR was designed to hold medium and heavy sour barrels while much U.S. output is light, sweet shale, creating a logistical mismatch that has complicated refill efforts; EIA data show inventories just under 400 million barrels with over 300 million still to fill.
- Arranging a crude-for-crude swap would place Venezuelan barrels in commercial tanks at the Louisiana Offshore Oil Port while U.S. producers deliver medium sour crude into SPR caverns, but such exchanges are uncommon and logistically complicated.
- The DOE has yet to publicly comment on the plan as Texas Representative August Pfluger urged discounted Venezuelan barrels to refill the SPR, while experts warn sulfur-rich crude could damage Louisiana infrastructure.
- Buying hundreds of millions of barrels outright would cost tens of billions, but the U.S. oil market has abundant production yet lacks the right oil in the right place, so slow-walking purchases risks turning the Strategic Petroleum Reserve into a permanent half-empty museum exhibit.
18 Articles
18 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.
Trump Admin Considers Venezuelan Oil Swap to Fill Strategic Petroleum Reserve
by William Upton, The National Pulse: WHAT 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 […]
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…
Oil stocks brace for holiday week as Chevron Venezuela license and $60 oil collide
New York, Jan 18, 2026, 12:38 EST — Market closed Chevron will be in focus during the next U.S. session after Energy Secretary Chris Wright revealed that Washington is rushing to expand the company’s Venezuela license. The update would allow Chevron to pay the Venezuelan government in cash and sell all the oil it produces there. “So they become immediately, another marketer of crude as well,” Wright explained. Chevron shares closed Friday nearly…
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