"Biden To Release 15M Barrels From Oil Reserve"

"President Joe Biden will release an additional 15 million barrels of oil from the United States’ emergency reserves, in an effort to lower gas prices ahead of next month’s midterm elections.

Additional releases from the Strategic Petroleum Reserve are possible this winter, “if needed due to Russian or other actions disrupting global markets,” according to the White House.

The sale — which will take place in December — completes the 180-million-barrel drawdown that Biden authorized in March, roughly a month after Russian President Vladimir Putin launched his invasion of Ukraine. Senior administration officials detailed plans for the sale in a call with reporters Tuesday on the condition that they would only speak anonymously."

Carlos Anchondo reports for E&E News October 19, 2022.

Source: E&E News, 10/19/2022