en.Wedoany.com Reported - The US Department of Energy recently announced that it has lent 26.03 million barrels of crude oil from the Strategic Petroleum Reserve to nine oil companies. This marks the third allocation since earlier this year, aimed at addressing fuel price volatility. Previously, the US government agreed to coordinate with the International Energy Agency to release a total of 172 million barrels of crude oil as part of a joint effort to reduce inventories and stabilize market supply.

To date, the United States has provided a total of 126 million barrels of crude oil through three batches of Strategic Petroleum Reserve loans. Energy companies are required to repay additional crude oil as interest after borrowing. According to the agreements, these companies have signed to borrow nearly 80 million barrels of crude oil, accounting for over 63% of the total offered by the government.

The Department of Energy stated that companies receiving the third batch of Strategic Petroleum Reserve loans include BP Products North America Inc., Exxon Mobil Corporation, and Marathon Petroleum Company, among others.

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