The United States is preparing to release approximately 45 million barrels of oil from its Strategic Petroleum Reserve in a move aimed at curbing rising fuel prices, according to a document from the Department of Energy.
The first shipments of oil are expected to begin soon, as part of President Biden’s plan to alleviate pressure on consumers. The Strategic Petroleum Reserve currently holds 172 million barrels. The initial phase of the plan involves releasing around 45 million barrels, with refiners and traders already requesting half of the available quantity. This action comes as gasoline prices have reached their highest levels in roughly four years, fueling concerns about the increasing cost of living.
The decision follows disruptions in oil shipments through the Strait of Hormuz, a critical waterway for global oil supply, where approximately 20% of the world’s oil passes. Ongoing conflict in Iran has exacerbated these concerns. The release of oil from the reserve is expected to provide better supply outlooks for refineries along the U.S. Gulf Coast, as West Texas Intermediate crude is currently trading at a discount compared to Brent crude.
This move is part of a coordinated international relief effort led by the International Energy Agency, with over 30 countries participating and potentially releasing up to 400 million barrels to ease global price pressures. The U.S. Announced plans to refill the reserve once the conflict ends, as stated by U.S. Energy Secretary Chris Wright on March 15, 2026. Amwal Alghad reports that Wright indicated the U.S. Would release 172 million barrels from the Strategic Petroleum Reserve in an effort to lower sharply increased oil prices.
The release of strategic reserves underscores the ongoing efforts to stabilize global energy markets amid geopolitical uncertainty and supply chain challenges. MSN Arabia and Misr Mubashir both reported on the announcement on March 21, 2026.
