The US Department of Energy says it is offering energy companies loans of up to 40 million barrels of crude from the Strategic Petroleum Reserve (SPR), aiming to address high fuel prices and ease supply pressures. The move is presented as the final phase of an international effort to release emergency oil stockpiles.
The US had earlier agreed to loan 172 million barrels as part of a wider deal through the International Energy Agency (IEA) involving around 30 countries and targeting a total release of about 400 million barrels. According to reporting referenced by outlets, the Trump administration later made the last 40 million barrels available, but companies ultimately agreed to borrow only around 500,000 barrels.
The articles also note that US political and market timing is a key context, with references to election-related pressure. One outlet adds details about the structure of the loan arrangement, including premium repayment, timelines, and a submission deadline for companies. Another highlights the March agreement and the earlier reduction in expected borrowing under the final tranche. There are no conflicting accounts of the central action: the offer of the 40 million barrels and the smaller-than-expected take-up.
