Trump administration aims to cancel oil reserve sales, support small nuclear

U.S. Energy Secretary Chris Wright said on Monday he was planning to work with Congress on cancelling previously mandated sales from the Strategic Petroleum Reserve as one way to address low stockpiles. Congress has mandated some 100 million barrels in sales from the reserve, the world's largest emergency stockpile of crude oil, with a 7 million barrel sale set for fiscal year 2026-2027, and further sales through 2031. "Anything with Congress is more difficult, you know, and that takes time, but absolutely," Wright told Reuters in an interview at the CERAWeek conference.