More Venezuelan heavy crude is particularly valuable for U.S. Gulf Coast refiners, but with U.S. refineries already running near capacity, additional crude cannot immediately solve the global fuel shortage.

Trump said a new pact with Venezuela will allow US to control billions of barrels of oil, lowering gas prices for Americans and doubling US reserves.

Venezuela has one of the largest oil reserves in the world, with an estimated 303 billion barrels of crude oil in the ground.

Stocks of crude oil in the US strategic reserve fell by about 5.3 million barrels this month

There aren’t 65 billion barrels, they won’t be lowering gas prices, and they won’t refill the SPR.