U.S. to Release 172 Million Barrels From Strategic Oil Reserves

Energy Department says move aims to prevent prices from rising further due to Middle East war

Published on Mar. 12, 2026

Got story updates? Submit your updates here. ›

The United States plans to release 172 million barrels of oil from its strategic reserves over four months, beginning next week, as part of a coordinated effort by the International Energy Agency to try to prevent oil prices from rising further because of the war in the Middle East. However, oil prices continued to rise on Wednesday evening, with Brent crude approaching $100 a barrel.

Why it matters

The release of oil from strategic reserves is an attempt to alleviate pressure on the cost of oil and gasoline prices in the U.S., which have been climbing for 11 straight days to an average of $3.58 per gallon. This move is in response to the effects of a blockade in the Strait of Hormuz, which is impacting global oil supply and prices.

The details

The Energy Department announced the plan to release 172 million barrels of oil from the U.S. strategic reserves over four months, starting next week. This is part of a coordinated effort by the International Energy Agency, whose 32 member countries have agreed to put additional oil supplies into the market. However, oil prices continued to rise on Wednesday evening, with Brent crude approaching $100 a barrel, up from less than $90 earlier in the day.

  • The U.S. plans to release 172 million barrels of oil from its strategic reserves over four months, beginning next week.
  • Oil prices continued to rise on Wednesday evening, with Brent crude approaching $100 a barrel.

The players

U.S. Energy Department

The government agency that announced the plan to release 172 million barrels of oil from the U.S. strategic reserves.

International Energy Agency

A 32-member organization that has agreed to put additional oil supplies into the market in a coordinated effort to try to prevent oil prices from rising further.

President Trump

The U.S. president who alluded to the plans to release oil from strategic reserves earlier in the day, saying he would do so to try to alleviate pressure on the cost of oil and gasoline prices.

Senator Chuck Schumer

The Democratic leader in the U.S. Senate who said President Trump's move to release oil from strategic reserves should have come days earlier and that Mr. Trump had 'created many more problems than the strategic petroleum reserve will solve.'

Got photos? Submit your photos here. ›

What they’re saying

“We'll do that, and then we'll fill it up. Right now, we'll reduce it a little bit, and that brings the prices down.”

— President Trump (Local television station in Cincinnati)

“President Trump's move to release oil from strategic reserves should have come days earlier and that Mr. Trump had 'created many more problems than the strategic petroleum reserve will solve.'”

— Senator Chuck Schumer, Democratic leader (Capitol Hill)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This move by the U.S. government to release oil from strategic reserves is an attempt to stabilize oil and gasoline prices that have been rising sharply, but it remains to be seen whether it will be effective in the face of the ongoing geopolitical tensions and supply disruptions in the Middle East.