Trending Now - US Releases 86 Million Barrels From Emergency Oil Reserves

WHO:

Trump administration

U.S. Secretary of Energy Chris Wright

WHAT:

The Trump administration ordered the release of 172 million barrels of oil from the U.S. Strategic Petroleum Reserve.

This release is the second-largest in the history of the reserve, following President Joe Biden's 2022 withdrawal of 180 million barrels.

The release will start next week and roll out over 120 days.

The release will reduce the nation's oil reserves to approximately 243 million barrels, a 41% decrease from the current 415 million barrels.

The strategic stockpile will be at its lowest levels since 1982.

The average price of a gallon of gas in the U.S. was about $4.23 in March of 2022 and is currently $3.63, up 22% from $2.98 before the start of the Iran conflict.

Chris Wright stated, "The United States has arranged to more than replace these strategic reserves with approximately 200 million barrels within the next year."

WHERE:

United States

WHEN:

The release order was issued in March 2026.

The last major drawdown occurred in March 2022.

The first sale of the Strategic Petroleum Reserve was in 1985.

WHY:

The release is intended to stem rising oil prices, which were over $100 a barrel amid the war with Iran.

HOW:

The release will be executed over a period of 120 days.

(UPDATED March 14, 2026 03:44 UTC)

In a significant move, the Trump administration has ordered the release of 172 million barrels of oil from the U.S. Strategic Petroleum Reserve, marking the second-largest withdrawal in the reserve's history. This release, set to begin next week and roll out over 120 days, will reduce the nation's oil reserves to approximately 243 million barrels, the lowest level since 1982. U.S. Secretary of Energy Chris Wright assured that the United States plans to replace these strategic reserves with around 200 million barrels within the next year, as the release aims to address rising oil prices amid ongoing tensions in the region.