US Administration to Release 172 Million Barrels of Oil from Strategic Reserves
The US administration has announced that 172 million barrels of oil will be released from the Strategic Petroleum Reserve (SPR). US Energy Secretary Chris Wright stated that 32 member countries of the International Energy Agency (IEA) unanimously accepted President Donald Trump’s request. The goal of this request is to lower energy prices by releasing a total of 400 million barrels of oil and refined products in a coordinated way. The statement said, “As part of this effort, President Trump has authorized the Department of Energy to release 172 million barrels of oil from the Strategic Petroleum Reserve starting next week.”
