US Explores Heavy Crude Swaps with Venezuela to Refill Strategic Reserve

Venezuela’s heavy crude isn’t a great fit for the US emergency reserve. It could still help refill it.

US Energy Secretary Chris Wright oversaw the signing of a series of energy deals during his visit to Caracas, where he met interim President Delcy Rodríguez. Juan Barreto/AFP/Getty Images The US could swap Venezuela's heavy crude for lighter American oil to help refill the SPR. The Venezuelan barrels don't have to enter the reserve themselves, Energy Secretary Chris Wright said. More Venezuelan heavy crude could also mean more competition for Canadian oil. The US could swap heavy Venezuelan...