US Department of Energy explores plan to exchange Venezuelan crude for domestic oil to refill Strategic Petroleum Reserve
The Department of Energy is exploring a swap of heavy Venezuelan oil for U.S. crude to refill reserves. This plan utilizes the Louisiana Offshore Oil Port.
Insights:
The US 
USDepartment of Energy is currently exploring a proposal to exchange heavy Venezuelan 
VEcrude oil for medium sour crude produced in the USas a means to replenish the Strategic Petroleum Reserve. Under this exploratory mechanism, the Trump administration is looking to move Venezuelancrude into storage tanks at the Louisiana Offshore Oil Port. This potential shift in energy policy would allow the government to increase its demand for domestic supplies of Crude Oil WTI while simultaneously providing private entities with access to heavy crude.
USDepartment of Energy is currently exploring a proposal to exchange heavy Venezuelan VEcrude oil for medium sour crude produced in the USas a means to replenish the Strategic Petroleum Reserve. Under this exploratory mechanism, the Trump administration is looking to move Venezuelancrude into storage tanks at the Louisiana Offshore Oil Port. This potential shift in energy policy would allow the government to increase its demand for domestic supplies of Crude Oil WTI while simultaneously providing private entities with access to heavy crude.
