US Begins Emergency Oil Reserve Release of 86 Million Barrels
The Strategic Petroleum Reserve facility in West Hackberry, Louisiana.
Source: U.S. Department of Energy/U.S. Department of EnergyThe Trump administration started the process of a mammoth drawdown of the US emergency oil reserve, issuing a request to exchange 86 million barrels of crude oil.
Deliveries from the Strategic Petroleum Reserve, part of a massive 172 million barrel release announced Wednesday, are expected to begin moving to market by the end of next week, the Energy Department said in a statement Friday.