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Biden announces historic SPR release to offset multi-year high oil prices

THE Biden administration on Thursday announced the release of some 1 million bopd over the next six months from the US Strategic Petroleum Reserve (SPR) in an effort to lower global oil prices. That amount equals 180 million barrels, roughly 1/3 of total SPR.

Tim Daiss
Biden announces historic SPR release to offset multi-year high oil prices

This marks the third time the US has released oil from its SPR over the past severamonths and is the largest release in the almost 50-yer history of the SPR. News of the release sent global oil prices...

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