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‎US to release 172M barrels of oil from strategic reserve

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US to release 172M barrels of oil from strategic reserve

US Strategic Petroleum Reserve currently holds about 415 million barrels

The US plans to release 172 million barrels of oil from its strategic petroleum reserve in line with the International Energy Agency’s (IEA) decision to release 400 million barrels from emergency reserves.

The process will take approximately 120 days to deliver based on planned discharge rates, US Energy Secretary Chris Wright said today, March 12.

The US Strategic Petroleum Reserve currently holds about 415 million barrels, roughly 60% of its capacity.

Earlier, President Donald Trump’s said that the US will reduce strategic petroleum reserve ‘a little bit’, then fill it up again.

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