Assistant Secretary for the Hydrocarbons and Geothermal Energy Office Kyle Haustveit explained, "These actions help move oil quickly into the market, address short-term supply pressures, and ensure that the Strategic Petroleum Reserve remains strong through the return of premium barrels." The department stated that the exchange continues the "execution of President Trump's swift 172-million-barrel release as part of a coordinated 400-million-barrel action by International Energy Agency (IEA) member nations' strategic reserves." |