U.S. Strategic Petroleum Reserve levels stand near 283 million barrels as of late October 2026, following large emergency exchanges tied to 2026 supply disruptions. Recent Energy Department statements explicitly rule out using Venezuelan crude for SPR refills at this time, citing its heavy gravity (API 8–16) and high sulfur content that exceed cavern specifications designed for lighter, lower-sulfur grades. Administration plans instead emphasize commercial exports of Venezuelan output to U.S. refiners and premium exchanges with domestic medium-sour crude. Production under U.S.-backed deals has risen toward 1 million barrels per day, yet quality mismatches and the November 2 DOE clarification limit near-term prospects for direct or swapped additions to the reserve. Key near-term catalysts include further exchange tenders and any policy shifts on sanctions relief.
2026年8月28日,美國與委內瑞拉宣布達成一項石油協議,讓美國得以取得委內瑞拉的原油儲備。 如果在指定日期 下午11:59 ET 前,根據本協議取得的任何數量委內瑞拉石油存入美國戰略石油儲備(SPR),此市場將判定為「是」。否則,此市場將以「否」結算。 必須確認符合資格的存入量已送達美國 SPR 儲存設施,且是根據上述協議或後續的美國與委內瑞拉石油協議從委內瑞拉取得。宣布計畫或有意將委內瑞拉石油存入 SPR,均不符合資格。 必須在指定日期 下午11:59 ET 前確認該筆存入。 此市場的判定依據將是美國政府的官方資訊,以及可信報導所形成的共識。
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