Bloomberg Surveillance · Monday, September 14, 2026
The U.S. plans to begin refilling its Strategic Petroleum Reserve (SPR) within the next few months, as oil released through swaps will be returned. Energy Secretary Chris Wright noted that while crude oil supply is a focus, the larger challenge lies in the production of refined products like gasoline and diesel, with efforts underway to increase their availability.
“Oh, it'll start being refilled in the next few months. Remember, the oil we released, none of it was sold. It was all swapped with delivery dates and delivery amounts agreed in those contracts. So that oil will start going in.”
“The oil problem is going to fade away. The bigger problem is the refined products. It's turning oil into gasoline, diesel, and jet fuel.”
“And, President Trump, you saw last year amazingly low inflation-adjusted prices for gasoline, for diesel, for home heating from natural gas.”