The government of U.S. President Donald Trump announced it will release 172 million barrels of oil from its Strategic Petroleum Reserve. In a statement, Energy Secretary Chris Wright said that 32 member countries of the International Energy Agency (IEA) agreed to lower energy prices through a coordinated release of 400 million barrels of oil and refined products from their respective reserves. "As part of this initiative, President Trump has authorized the Department of Energy to release 172 million barrels from the Strategic Petroleum Reserve starting next week. At the planned discharge rates, delivery will take approximately 120 days," Wright stated. According to a Xinhua report accessed by the Argentine News Agency, the United States has agreed to replace these strategic reserves with approximately 200 million barrels over the next year, the official added.
