TechFlow News, March 12: According to JINSHI Data, U.S. Energy Secretary Wright issued a statement on the release of the Strategic Petroleum Reserve (SPR), stating that all 32 member countries of the International Energy Agency (IEA) have unanimously agreed to President Trump’s request to coordinate the release of 400 million barrels of crude oil and refined petroleum products from their national reserves to lower energy prices. As part of this initiative, President Trump has authorized the Department of Energy to release 172 million barrels of crude oil from the U.S. Strategic Petroleum Reserve starting next week. At the planned release rate, delivery is expected to be completed in approximately 120 days. Meanwhile, President Trump pledged to safeguard U.S. energy security through responsible management of the SPR. The U.S. has scheduled the replenishment of approximately 200 million barrels to its strategic reserves over the next year—20% more than the amount planned for withdrawal—with no cost to taxpayers.
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