Trump: Will "slightly" release the US strategic oil reserve.

date
12/03/2026
On the 11th, US President Trump said in an interview with the media that the United States will release its strategic oil reserves to address the rise in oil prices caused by US and Israeli airstrikes on Iran. Trump said that he will "slightly" reduce the strategic oil reserves to lower oil prices, and he will replenish the strategic oil reserves again. Data released by the American Automobile Association that day showed that the average price of regular gasoline in the United States continued to rise, reaching its highest level in over 20 months. On that day, the national average price for regular gasoline was $3.578 per gallon, a cumulative increase of about 20% compared to February 26th. In addition, the Dutch government announced on the 11th that in response to arrangements by the International Energy Agency, they will release about 5.36 million barrels of strategic oil reserves, accounting for about 20% of the country's strategic oil reserves, to suppress the rise in international oil prices. The energy departments of Latvia, Estonia, and Lithuania issued a joint statement on the same day announcing that the three countries are ready to use their oil reserves. Earlier that day, the International Energy Agency announced that its 32 member countries unanimously agreed to release 400 million barrels of strategic oil reserves to address the tight global oil supply situation caused by US and Israeli military strikes on Iran. The United States, Netherlands, Latvia, Estonia, and Lithuania are all member countries of the International Energy Agency.