The US plans to replenish its Strategic Petroleum Reserve using Venezuelan crude after securing 55% control over 65 billion barrels of proven

The Trump administration is negotiating a direct US ownership stake in Venezuelan oil fields containing 90 billion barrels of proven reserves.

The deal would more than double US oil reserves at a time when the US strategic petroleum reserve is at a 40-year low, said news site Axios.

US president says US will have ‘majority’ control of 65bn barrels of proven oil reserves