S. Energy Secretary Chris Wright. The announcement comes as Western countries in the International Energy Agency (IEA), including the United States, have reportedly backed using their oil reserves to dampen price increases following the Iran war.
Despite the planned release, oil prices continue to climb, according to reports. The move follows statements earlier in the week from IEA member countries supporting the use of strategic reserves to address market pressures. S.
The United States plans to release 172 million barrels of oil from its strategic petroleum reserve
would use "a little bit" of its reserve, according to one source.
a little bit