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Europe Emerges As Key Buyer Of U.S. Strategic Petroleum Reserve Oil
Last month, the International Energy Agency (IEA) announced the coordinated release of over 400 million barrels of oil from global strategic reserves to combat high energy prices amid the Middle East turmoil.
Summary
Last month, the International Energy Agency (IEA) announced the coordinated release of over 400 million barrels of oil from global strategic reserves to combat high energy prices amid the Middle East turmoil. The U.S. was to contribute approximately 172 million barrels of this total, with the release taking place over 120 days starting late March 2026 to help lower gasoline costs.
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