Biden administrator weighs 180m barrels of oil from emergency reserves over months – sources By Reuters
© Reuters. FILE PHOTO: A maze of crude oil pipes and valves are pictured during a Department of Energy visit to the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard carson
WASHINGTON (Reuters) – The Biden administration is considering a drawdown of oil from emergency reserves of up to 180 million barrels over several months, two U.S. sources said on Wednesday.
The move is an attempt to control oil prices which soared above $100 a barrel during the Russian invasion of Ukraine and strong global demand.
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