US to Deliver 10Mln Barrels From Strategic Oil Reserve to Market in November - White House
The US Department of Energy will deliver another 10 million barrels of oil from the Strategic Petroleum Reserve (SPR) to the market in response to the decision by OPEC+ to cut production by 2 million barrels per day, White House National Security Advisor Jake Sullivan and National Economic Council Director Brian Deese said in a joint statement on Wednesday
WASHINGTON (Pakistan Point News / Sputnik - 05th October, 2022) The US Department of Energy will deliver another 10 million barrels of oil from the Strategic Petroleum Reserve (SPR) to the market in response to the decision by OPEC+ to cut production by 2 million barrels per day, White House National Security Advisor Jake Sullivan and National Economic Council Director Brian Deese said in a joint statement on Wednesday.
"At the President's direction, the Department of Energy will deliver another 10 million barrels from the Strategic Petroleum Reserve to the market next month, continuing the historic releases the President ordered in March," the statement said.
The Biden administration had initially planned to stop releasing oil from the SPR this month. The administration has released 160 million barrels of crude oil since March.