Trump Announces Release of Strategic Petroleum Reserve

President says US will tap reserves to bring down oil prices

Mar. 11, 2026 at 8:50pm

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President Donald Trump announced on Wednesday that the U.S. will release crude oil from the Strategic Petroleum Reserve, the administration's latest attempt to address rising oil prices. Trump did not provide specifics on the amount of oil to be released or the timing of the move.

Why it matters

The Strategic Petroleum Reserve is a massive stockpile of crude oil that the U.S. government can tap into in times of supply disruptions or price spikes. This move is intended to help bring down oil prices, which have risen sharply since the U.S. launched its war against Iran.

The details

Trump's announcement comes after the International Energy Agency said it would coordinate the largest release of oil reserves in its history, with 400 million barrels to be released by its 32 member countries, including the U.S., Japan, Germany, the U.K. and France.

  • On Wednesday, March 11, 2026, President Trump announced the U.S. will release crude oil from the Strategic Petroleum Reserve.

The players

Donald Trump

The 45th President of the United States.

International Energy Agency

An autonomous intergovernmental organization that works to ensure reliable, affordable and clean energy for its 32 member countries.

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What they’re saying

“We'll do that, and then we'll fill it up. I filled it up once, and I'll fill it up again. But right now, we'll reduce it a little bit, and that brings the prices down.”

— Donald Trump, President of the United States (Local 12)

What’s next

The U.S. Department of Energy will need to determine the specific amount and timing of the oil release from the Strategic Petroleum Reserve.

The takeaway

This move by the Trump administration is a direct attempt to address rising oil prices, which have become a political liability. However, the long-term impact on oil prices remains uncertain, as global supply and demand factors will continue to play a role.