US Department of Energy moves to transfer 53.3 million barrels amid rising oil prices.
Published On 12 May 202612 May 2026
The United States has announced its latest release of emergency oil stockpiles in coordination with the International Energy Agency (IEA).
The US Department of Energy said on Monday that it had begun transferring 53.3 million barrels from the strategic petroleum reserve after awarding contracts to nine companies under its emergency exchange programme.
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