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Only Trump Can Approve Possible US Participation in Oil Release, Says Burgum

Business & Policy
March 12, 2026

(Reuters) – U.S. Interior Secretary Doug Burgum on Wednesday welcomed the International Energy Agency’s move to release 400 million barrels of oil, but said only President Donald Trump could approve participation by Washington in such a move.

Burgum, speaking to CNBC, also said U.S. oil companies would soon announce increased production amid price spikes triggered by the Iran conflict.

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“I think what you’re hearing out of the IEA today is reasonable on their part, but clearly, whether the U.S. participates is up to President Trump, he’ll make the final decision on that,” he said.

Reporting by Jasper Ward in Washington; Editing by Chris Reese and David Ljunggren