Trump Vows to Refill U.S. Oil Reserves with Venezuelan Crude

U.S. President Donald Trump expressed confidence in stabilizing oil prices at a campaign rally supporting midterm elections on November 2.

In his speech, President Trump claimed that 'we are working with Venezuela and pulling out billions of dollars worth of oil' to refill the U.S. Strategic Petroleum Reserve (SPR) at no cost.

This is interpreted as an intention to expand the reserve using oil secured from Venezuela, but the president did not specify when or how much it would be refilled.