Archive · 11 Oct 2026
US Releases Four Million Barrels From Reserve After Isaias Disruption
The United States is lending oil from its emergency reserve after Hurricane Isaias disrupted oil production.
The government authorized up to four million barrels to be released.
ExxonMobil and BP American can each receive up to two million barrels.
The oil is meant to help keep their refineries working.
The companies must return the oil in 2027 and add a little extra.
The storm led many offshore oil operations to stop work as a safety measure.
Experts disagreed about whether this would make gasoline more expensive.
Some said prices could rise if power outages affect refineries, while others expected only a small, local effect.
The US authorized the release of up to four million barrels of crude from the Strategic Petroleum Reserve on Oct. 10.
ExxonMobil and BP American may each receive up to two million barrels to help keep refineries operating.
The companies must return the crude in 2027 and add a premium amount, the Department of Energy said.
Hurricane Isaias disrupted Gulf Coast oil production; more than two-thirds of Gulf output was shut down as a precaution.
Experts differed on fuel-price effects, with some warning of possible increases and others expecting minimal, regional impact.
- Who
- The US Department of Energy authorized the release; ExxonMobil and BP American may receive the crude.
- What
- Up to four million barrels of crude oil will be released from the Strategic Petroleum Reserve through an emergency exchange.
- When
- Saturday, Oct. 10; the companies must return the oil in 2027.
- Where
- The disruption affected oil production in the US Gulf Coast region after Isaias made landfall in Florida.
- Why
- To offset supply disruptions caused by the storm and help keep refineries running.
Possible price increases
Limited price impact
Effect on fuel prices
Possible price increases
Some industry experts said fuel prices could rise if power outages shut refineries.
Limited price impact
Other experts said any gasoline-price impact would be minimal and mostly regional.
- Authorized release
- Up to 4 million barrels of crude oil
- Potential recipients
- ExxonMobil and BP American, up to 2 million barrels each
- Repayment
- Crude must be returned in 2027, with a premium amount
- Gulf production shut down
- More than two-thirds, or nearly 1.5 million barrels per day
- Platforms evacuated
- Personnel were evacuated from 129 production platforms
- Isaias landfall
- Florida, Friday, Oct. 9; Category 2 hurricane
- SPR level
- The reserve was reported at its lowest level since 1982