How much oil is the U.S. loaning from the Strategic Petroleum Reserve, and why?

The U.S. is loaning 53.3 million barrels of crude oil from the Strategic Petroleum Reserve (SPR) to energy companies as part of a global agreement with over 30 International Energy Agency (IEA) member countries to calm oil markets that spiked due to the U.S.-Israeli war with Iran — specifically triggered by Iran’s shutdown of the Strait of Hormuz, a critical choke-point through which about 20% of the world’s oil normally flows daily.

What are the financial terms of the SPR loan, and how does the Department of Energy justify it as cost-free to taxpayers?

The Department of Energy (DOE) is loaning oil to companies that must repay in crude with premiums of up to 24%, and the DOE states this system will help stabilize markets at no cost to U.S. taxpayers.

US to Loan 53.3 Million Barrels of Oil from Strategic Petroleum Reserve

May 11, 2026

The Trump administration will loan 53.3 million crude oil barrels from the Strategic Petroleum Reserve to nine companies to stabilize markets amid Middle East tensions. This supports an international agreement to counter supply disruptions affecting global fuel prices.

reuters

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