The US Energy Department announced on Wednesday that it will lend up to 10 million barrels of crude oil from the Bryan Mound strategic petroleum reserve site as part of an agreement with 32 countries to ease supply pressures due to the Iran war. Companies can submit applications until 11:00 am Central Time on April 6.
"This action is part of the coordinated release of 400-million-barrels from IEA member nations' strategic reserves President Trump previously announced. The United States continues to deliver on its 172-million-barrel release commitment," the release read.
The US Energy Department has already lent 45.2 million barrels of crude oil from the reserve in the first release under the agreement in March. The oil is being released in the form of loans that companies will return with extra barrels as a premium "at no cost to American taxpayers," according to the Energy Department.
https://breakingthenews.net/Article/US-to-loan-up-to-10M-oil-barrels-from-Bryan-Mound-site/66000790
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