Crude oil inventories in the United States posted a sharp draw last week, even as gasoline and distillate stockpiles recorded sizable builds, according to new data released Wednesday

The world is still processing the nighttime raid on Venezuela by  U.S. forces on Saturday, capturing President Nicolás Maduro and his wife, and flying them to New York to face narcoterrorism and drug conspiracy charges.

U.S. crude oil inventories fell last week as imports dropped and refineries ran at a slightly faster pace.

The U.S. added nearly 19.7 million bbl of oil to the Strategic Petroleum Reserve in 2025 as the Trump administration continued efforts to replenish the stockpile, according to Department of Energy data released Monday. The year's increase comes on top of the 38.8 million bbl added in 2024.

The American Petroleum Institute reportedly shows a draw of 2.8 million barrels of oil in US commercial stockpiles for the week ending January 2.

President Trump said "we're going to get the oil flowing the way it should be" after the surprise U.S. attack. Here's what to know about Venezuela's oil sector.

The country’s “extra heavy” oil packs some of the highest associated greenhouse gas emissions of any crude oil.

Oil prices fell on Tuesday on expectations of ample global supply amid weak demand, and as the market weighed the prospect of higher Venezuelan crude output following the U.S. capture of President Nicolas Maduro.

Texas-based oil companies have largely been silent on Trump’s assertion that they would help to rebuild Venezuela’s oil infrastructure.