U.S. to Release 172 Million Barrels from Strategic Oil Reserve
Energy Secretary Chris Wright explained that the decision follows a joint agreement among members of the International Energy Agency.
“Earlier today, 32 member nations of the International Energy Agency unanimously agreed to President (Donald) Trump’s request to lower energy prices with a coordinated release of 400 million barrels of oil and refined products from their respective reserves,” Wright stated in a press release.
The measure comes as hostilities have disrupted shipping through the Strait of Hormuz, a key maritime route that typically handles about 20 million barrels of oil per day—representing roughly 20% of global oil commerce—sparking worries over potential supply shortages and surging energy costs worldwide.
“President Trump promised to protect America’s energy security by managing the Strategic Petroleum Reserve responsibly, and this action demonstrates his commitment to that promise,” Wright added.
He also criticized the former administration, noting that the United States has plans to replenish the reserves with approximately 200 million barrels within the next year—around 20% more than the volume being released—without imposing any cost on taxpayers.
“For 47 years, Iran and its terrorist proxies have been intent on killing Americans,” Wright remarked. “They have manipulated and threatened the energy security of America and its allies. Under President Trump, those days are coming to an end.”
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