Trump Vows to Refill US Oil Reserves Using Venezuelan Crude

US President Donald Trump expressed confidence in stabilizing oil prices during a campaign rally in Alabama on October 2nd.

He claimed that the US would soon refill its Strategic Petroleum Reserve (SPR) at no cost, stating 'We are working with Venezuela and pulling out billions of dollars worth of oil.'

This is seen as an intention to expand the SPR using oil secured from Venezuela.

Currently, the US strategic petroleum reserves have fallen below 284 million barrels, the lowest level since 1982.