What? The US has zero problem refining it. Most US refineries, particularly in the Gulf, are actually set up for heavy sour crude like Venezuelan.

That's kind of the issue. The US mostly produces light sweet crude, but our refineries are mostly set up for sour crude. So, while we are a net oil exporter, we have to import most of our oil to actually refine it because we aren't set up to refine our own production.

This "deal" is explicitly a gift to US refineries who are going to make unfathomable fortunes from it. He is trying to keep them on his side to throw their weight around for midterms and beyond.