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U.S. Energy Adds 40M Barrels to Reserves
U.S. Energy Secretary Chris Wright reported that the United States will release approximately 40 million barrels of oil from the Strategic Petroleum Reserve after the resolution of the Iran conflict. This action contributes to stabilizing the oil markets without incurring costs to taxpayers. It is noted that the strategic stockpile has fallen to its lowest level in over two years, and the lending and exchange operations are expected to be supported by an agreement with the International Energy Agency aimed at calming the global market.
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