Published Sep 4, 2026, 9:30 AM ET · Updated 2 months ago · 1 source

Venezuelan crude unsuitable for direct SPR storage but can be swapped

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Original Report

Venezuela's heavy sour crude is poorly suited for direct storage in the current US Strategic Petroleum Reserve (SPR) infrastructure, which typically purchases lighter, sweeter crudes. However, the US can acquire Venezuelan crude through a swap mechanism, exchanging heavy crude for lighter US crude to replenish the SPR, as explained by Secretary Wright.