US Secretary of Energy Chris Wright said there is a “high possibility” of a new round of crude oil lending from strategic oil reserves as oil prices rise and futures are deeply inflated to boost demand for crude oil. The US Department of Energy has loaned more than 130 million barrels from the release quota of 172 million barrels approved in March, leaving about 38.5 million barrels to be loaned.

US Secretary of Energy Chris Wright said there is a “high possibility” of a new round of crude oil lending from strategic oil reserves as oil prices rise and futures are deeply inflated to boost demand for crude oil. The US Department of Energy has loaned more than 130 million barrels from the release quota of 172 million barrels approved in March, leaving about 38.5 million barrels to be loaned.