Global Energy Crisis: 'Set To Release 172 Million Barrels Of Oil,' Says US Department Of Energy

Global Energy Crisis: 'Set To Release 172 Million Barrels Of Oil,' Says US Department Of Energy

In a major move, the U.S. Department of Energy, led by Secretary Chris Wright, announces the release of 172 million barrels of oil from the Strategic Petroleum Reserve (SPR). This follows a unanimous decision by 32 International Energy Agency (IEA) member nations to back President Trump's call for a collective 400 million-barrel drawdown of oil and refined products from global reserves.

Starting next week, the U.S. portion will roll out over about 120 days at planned rates, aiming to stabilize prices and reinforce America's energy dominance. "This ensures our energy security remains rock-solid," Wright stated.

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