DOE (3/11/2026): “Earlier today, 32 member nations of the International Energy Agency unanimously agreed to President Trump’s request to lower energy prices with a coordinated release of 400 million barrels of oil and refined products from their respective reserves.
“As part of this effort, President Trump authorized the Department of Energy to release 172 million barrels from the Strategic Petroleum Reserve, beginning next week. This will take approximately 120 days to deliver based on planned discharge rates.
This will reduce the SPR to ~ 243 million bbls, 1/3 of capacity and the lowest level since it was initially filled in 2010. Market disturbances and national elections are too frequent to have confidence that the SPR will be refilled, even to the 500 million bbl level.
Meanwhile, the oil markets didn’t seem to be impressed by the announcement.
Bud's Offshore Energy (BOE) 
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