Japan, Germany to release oil from reserves amid energy crisis sparked by West Asia conflict

“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,” US secretary of energy Chris Wright said in a statement.

Wright said that US President Donald Trump has promised to ‘protect America’s energy security by managing the Strategic Petroleum Reserve responsibly’. “This action demonstrates his commitment to that promise,” Wright said, adding that the US has arranged ‘to more than replace these strategic reserves.’

“Unlike the previous administration, which left America’s oil reserves drained and damaged, the United States has arranged to more than replace these strategic reserves with approximately 200 million barrels within the next year—20% more barrels than will be drawn down—and at no cost to the taxpayer,” Wright said as he accused Iran of intending to kill Americans for 47 years. “They have manipulated and threatened the energy security of America and its allies. Under President Trump, those days are coming to an end,” he said.