The SPR is already at a 44-year low. Now Trump wants another 40 million barrels out.

BREAKING: Trump administration offers a release of up to 40 million barrels from the Strategic Petroleum Reserve.

The SPR sits at 283.8 million barrels, the lowest since 1983, leaving about 31 million above the congressional minimum of 252.4 million. The US is offering to…

— The Hormuz Letter (@HormuzLetter) September 29, 2026

The Energy Department announced a request for proposals to exchange up to another 40 million barrels from the Strategic Petroleum Reserve. The crude will come from the Big Hill and Bryan Mound sites. Companies are supposed to return the oil later with additional barrels as a premium.

https://www.energy.gov/articles/united-states-energy-department-continues-execution-strategic-reserve-release-commitments

The distinction matters: this is an exchange, not a permanent sale. DOE says the 40 million barrels are part of the 172 million barrels the U.S. committed to release under the larger 400 million-barrel IEA action. Earlier exchanges have already covered more than 133 million barrels.

But the timing is striking.