America requests the withdrawal of 17 million barrels from the Strategic Petroleum Reserve
Amman1 min read
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The US Department of Energy said on Friday that the United States has requested bids for the exchange of up to 17 million barrels of crude oil from the country's Strategic Petroleum Reserve.
The measure will be part of a global agreement reached by the United States in March in an attempt to control fuel prices that were affected by the American war on Iran. Washington agreed at the time to lend 172 million barrels of oil from the Strategic Reserve as part of a larger agreement with about 30 countries in the International Energy Agency to withdraw 400 million barrels from reserves around the world.
The United States has withdrawn about 132.5 million barrels from the Strategic Petroleum Reserve since the start of the war between the United States and Iran.
The latest batch of 17 million barrels will form part of the remaining 40 million, which will be the final batch to be withdrawn.
The Department of Energy had offered 40 million barrels for exchange in June, before later revealing that companies had requested only about 500,000 barrels of that amount.
The government offered those barrels again in late September.
