The U.S. government announced a loan of approximately 53.3 million barrels of crude oil from the Strategic Petroleum Reserve on May 12, 2026. Exxon Mobil is one of nine companies selected to receive the supply.
This initiative coordinates with the International Energy Agency to stabilize global oil markets. The action responds to supply disruptions caused by ongoing geopolitical tensions.
The Department of Energy authorized companies to begin scheduling deliveries immediately. This release is part of a broader U.S. commitment to provide 172 million barrels from the reserve.
The loan structure requires companies to return the oil with an added premium. This arrangement provides a return for the government while addressing immediate market needs.