⛽ Trump says Venezuela oil deal refills US reserve
Donald Trump announced that oil secured from a new deal with Venezuela will replenish the Strategic Petroleum Reserve. This move involves the US and an unnamed private operator in Venezuela, with the deal covering 17 fields holding 65 billion barrels. The SPR was near a 44-year low as of August 21, having been drawn down due to global supply issues. Trump stated this oil is a "Gift from Venezuela to the People of the United States." However, significant investment is needed before production can meaningfully increase and impact US fuel prices.