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The Economic Times

National / The Economic Times

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US lends oil companies 45.2 mln barrels from reserve, first batch of Iran war

America is releasing oil from its Strategic Petroleum Reserve to manage rising prices. The government has lent over 45 million barrels to oil companies. This move is part of an international agreement to release 400 million barrels. Companies will return the oil with extra barrels. This system aims to stabilize markets without cost to taxpayers.

21 Mar 2026 6:33 am