US to release 53 million barrels from strategic oil reserve

US to release 53 million barrels from strategic oil reserve The administration of US President Donald Trump is providing 53. 3 million barrels of crude oil from the US Strategic Petroleum Reserve to energy companies as part of a global effort to stabilise markets shaken by the conflict involving Iran, according to a Reuters report. The move comes amid concerns over tightening global fuel supplies and disruptions linked to tensions in the Strait of Hormuz.