Washington, August 30 (QNA) - President of the United States, Donald Trump on Sunday said that his country will restock its Strategic Petroleum Reserve with Venezuelan crude, following a recent major oil agreement between Washington and Caracas.

This move will begin soon, President Trump added, saying that it comes as part of his administration's efforts to strengthen US energy supplies and leverage Venezuela's vast oil reserves.

The US President's post on Truth Social read, "At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, and, through a partnership with private business, have secured majority U.S. control of more than 65 billion barrels of proven oil reserves in Venezuela, at no cost to the American Taxpayer."

"This historic transaction more than doubles American oil reserves," he stressed.

The US Strategic Petroleum Reserve held approximately 290 million barrels as of August 21, bringing it close to its lowest level in 44 years, after the US drew down its stockpiles under both the Joe Biden and Trump administrations amid disruptions to global supplies caused by the war between Russia and Ukraine and the war against Iran. (QNA)