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Energy Secretary Chris Wright has proposed a plan to refill the Strategic Petroleum Reserve (SPR) by exchanging Venezuelan heavy crude for U.S.-produced light or medium crude. This plan involves U.S. refineries processing the Venezuelan crude and trading it for suitable oil to store in the SPR, which has recently reached its lowest levels since 1982.
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Energy Secretary Chris Wright has proposed a plan to refill the Strategic Petroleum Reserve (SPR) by exchanging Venezuelan heavy crude for U.S.-produced light or medium crude. This plan involves U.S. refineries processing the Venezuelan crude and trading it for suitable oil to store in the SPR, which has recently reached its lowest levels since 1982.
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Chris Wright explains how Venezuelan crude will ‘fill’ the Strategic Petroleum Reserve
Energy Secretary Chris Wright discusses Venezuelan crude's role in refilling the Strategic Petroleum Reserve