{ "story_id": "9fc0bae21123155e0744d1ca6ef2f0fc", "desk": "drm3", "revision": 1, "published_at": "2026-09-03T08:53:14.000Z", "content_hash": "a1dd20c57b42d59c84afa9c82fa635e3be079cf09725f9e881131f6c2d885cc0", "hash_basis": "sha256 over `headline\\ndek\\nprose`, plus `\\n` + the canonical citations JSON when any source is placed, plus `\\n#blog` for blogs", "basis": { "headline": "US Strategic Petroleum Reserves Hit Record Low Amid High Gas Prices", "dek": "US Strategic Petroleum Reserves fell to a record low of 286.6 million barrels as fuel prices surged in August 2026.", "prose": "The US Department of Energy reported on August 28, 2026, that the Strategic Petroleum Reserve fell to a record low of 286.6 million barrels. [^1]\n\nA US official stated on Tuesday that the US government will make zero investment of dollars in the new venture and will not use taxpayer money. [^2]\n\nThe Trump administration's proposed oil deal with Venezuela requires an estimated $100 billion in investment to build infrastructure and increase production. [^3]\n\nUS President Donald Trump and Venezuela's interim leader Delcy Rodríguez announced a new agreement on 2026-01-15 that places Venezuela's oil reserves back in the global spotlight. [^4]\n\nUnder the new US-Venezuela energy agreement, North American Blue Energy Partners (NABEP) received 100-year concessions covering 17 Venezuelan oil fields. [^5]\n\nUS Energy Secretary Chris Wright said the US could swap heavy Venezuelan crude for lighter American oil to help refill the Strategic Petroleum Reserve, because some of Venezuela's heavy crude grades are not suitable for the reserve directly. [^6]\n\nDuring the first half of August 2026, US drivers paid an average of $4 per gallon for gasoline and $5.40 per gallon for diesel fuel. [^7]\n\nThe current level of the Strategic Petroleum Reserve is approximately 40% of its total capacity, which can hold up to 714 million barrels. [^8]\n\nUS crude oil inventories decreased by more than three million barrels during the week ending August 28, 2026. [^9]\n\nIn return for the investment, the US government will receive a 35% equity interest in the business and the right to buy 20% of future crude oil production at production cost. [^10]\n\nNABEP is led by businessman Alejandro Betancourt and is set to receive leases for oil fields in Venezuela under the new agreement. [^11]\n\nThe agreement grants a 100-year drilling right to the company over the 17 oil fields. 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