On September 3, 2026, an official proposed that Venezuela's heavy crude could be swapped for American light or medium crude to help fill the US emergency reserve. The suggestion characterized oil markets as fluid and flexible for such arrangements.
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Explainer: Venezuela's heavy crude could be swapped for American oil to fill emergency reserve, Wright says reuters.com
"We'll swap you a barrel of heavy crude for a barrel of light or medium United States crude," Wright said during an interview on CNBC, calling oil markets fluid.