Oil Price Trend | U.S. Lends 45.2 Million Barrels of Strategic Petroleum Reserve to Oil Companies

SighingCashier · 2026-03-21T07:15:47+00:00

Due to rising oil prices caused by the Iran conflict, the U.S. Trump administration announced it will lend 45.2 million barrels of crude oil from the Strategic Petroleum Reserve to multiple companies to stabilize the market. This lending represents 52% of the planned 86 million barrels. Eventually, 172 million barrels will be lent, with repayment at a premium to avoid burdening taxpayers.

SighingCashier

2026-03-21 07:15:47

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Iran conflict drives oil prices higher, foreign reports say that on Friday, the Trump administration announced it has loaned 45.2 million barrels of crude oil from the Strategic Petroleum Reserve to several oil companies.

The U.S. Department of Energy stated in a release that the first batch of companies receiving SPR loan oil includes BP Products North America, Gunvor USA, Marathon Petroleum, and Shell Trading.

The initial loaned crude oil accounts for 52% of the maximum 86 million barrels announced last week. The U.S. ultimately aims to loan out 172 million barrels of crude oil over this year and next.

These loans are part of an agreement between the U.S. and the International Energy Agency (IEA) members, intended to release 400 million barrels from reserves. Companies will return the oil with additional barrels as a premium, the Department of Energy said, and this mechanism is designed to stabilize the market without burdening U.S. taxpayers.

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