Brief by Shorts91 Newsdesk / 07:50pm on 30 Aug 2026,Sunday International
US President Donald Trump has said oil from a new deal with Venezuela will be used to replenish America’s Strategic Petroleum Reserve, which has fallen to its lowest level in more than four decades. The reserve held about 290 million barrels in August, less than half its total capacity. Trump called the Venezuelan oil a “gift” to the American people and said refilling would begin soon. The proposed 25-year agreement covers 17 Venezuelan oilfields, but it remains unclear how quickly supplies can reach the US as Venezuela’s ageing oil infrastructure requires major investment. (PC: India Today)
