White House does not plan additional oil reserve releases beyond 6-month window
Reuters
Published Jul 26, 2022 04:43PM ET
WASHINGTON (Reuters) - The Biden administration does not plan to continue releases from the Strategic Petroleum Reserve (SPR) beyond the original six-month period, White House economic adviser Brian Deese said on Tuesday.
The administration said in late March it would release a record 1 million barrels of oil per day for six months from the SPR, held in hollowed-out salt caverns on the coasts of Louisiana and Texas.
"As we sit here today, we don't have an intention to continue that further," Deese said.
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Written By: Reuters
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