The Economic Times

US releases 4 million barrels from strategic oil reserves for ExxonMobil, BP amid Hurricane Isaias disruptions

The United States authorised the release of up to four million barrels of crude oil from its Strategic Petroleum Reserve to help ExxonMobil and BP maintain refinery operations amid supply disruptions caused by Hurricane Isaias. The companies must replenish the borrowed oil in 2027, with an additional premium, the Energy Department said.