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Chris Wright: “We traded one barrel for 1.28 barrels to come back.”

Featuring: Chris Wright, Republican | Secretary of Energy | National

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Secretary Wright Joins CNBC's Pippa Stevens - June 25, 2026

Published | Video Starts at 06:20

You know, we had a lot of interest in buying those barrels early on when oil prices were higher. And unlike the Biden administration, we did not sell a single barrel. We traded one barrel for 1.28 barrels to come back. 35 plus million barrels at no cost to American taxpayers will be added to the spider in the next few years as we refill, as we get the returns from the releases we've had. (06:20–06:28)

CLAIM

Asserts that the US traded oil at a rate of one barrel for 1.28 barrels in return.

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