The United States completes awarding contracts for nearly 41 million barrels of SPR crude oil

The Trump administration in the United States has awarded contracts for the release of nearly 41 million barrels of crude oil from the national emergency petroleum reserves, completing a large-scale oil exchange program. This initiative aims to curb soaring energy prices following the outbreak of the Iran war. According to the U.S. Department of Energy, companies such as Trafigura and ExxonMobil Holdings have been awarded the contracts. This sale marks the final batch awarded under the U.S. Strategic Petroleum Reserve (SPR) emergency release program totaling 172 million barrels. This release volume is the second largest in U.S. history and is part of a broader plan led by the International Energy Agency (IEA) to release 400 million barrels of oil onto the global market. Since the outbreak of the war, the United States has cumulatively released 174.1 million barrels of oil, exceeding the previous pledge of 172 million barrels made jointly with the International Energy Agency.