White House Signals ‘Significant’ Drawdowns From Strategic Reserve Beyond 180 Million Oil Barrels

Started by Epoch-Times-Bot, Oct 18, 2022, 11:15 PM

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Oct 18, 2022, 11:15 PM
White House Signals 'Significant' Drawdowns From Strategic Reserve Beyond 180 Million Oil Barrels

The White House on Tuesday signaled “additional significant” drawdowns from the U.S. Strategic Petroleum Reserve (SPR) beyond the 180 million barrels announced in March. But an expert says these drawdowns “failed to control oil prices.”
The final 15 million barrel tranche of the total 180 million barrel SPR drawdown is expected to be announced Wednesday, according to the White House.
“This sale will complete the historic, 180-million-barrel drawdown the President [Joe Biden] announced in the spring, which has helped to stabilize crude oil markets and reduce prices at the pump,” a White House fact sheet states.
Biden has also called on the Department of Energy (DOE) to be ready for “additional significant SPR sales this winter if needed due to Russian or other actions disrupting global markets.”...

Source: White House Signals 'Significant' Drawdowns From Strategic Reserve Beyond 180 Million Oil Barrels

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