WASHINGTON — For the second time this January, House Republicans have advanced a measure to restrict presidential use of the nation’s emergency oil stockpile.
U.S. gasoline prices are back on the agenda in Washington as both political parties go on the offensive.
President Joe Biden announced the drawdown of an additional 15 million barrels of oil from U.S. emergency reserves, as well as what he called a “ready and release plan” aimed at driving down gasoline prices.
The Biden administration is moving toward a release of at least another 10 million to 15 million barrels of oil from the nation’s emergency stockpile in a bid to balance markets and keep gasoline prices from climbing further.October 18, 2022
The Biden administration announced a plan May 5 to begin purchasing oil to refill the nation’s emergency reserve.
PARIS — The International Energy Agency said April 7 that its member countries are releasing 60 million barrels of oil from their emergency reserves on top of previous U.S. pledges to take aim at energy prices that have soared since Russia invaded Ukraine.April 7, 2022
WASHINGTON — President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve, according to two people familiar with the decision, in a bid to control energy prices that have spiked as the U.S. and allies have imposed steep sanctions on Russia over its invasion of Ukraine.
The U.S. is considering another release of oil from its emergency reserves as prices continue to surge after Russia’s invasion of Ukraine, people familiar with the matter said March 25.
FRANKFURT, Germany — The International Energy Agency’s 31 member countries agreed March 1 to release 60 million barrels of oil from their strategic reserves — half of that from the United States — “to send a strong message to oil markets” that supplies won’t fall short after the Russian invasion of Ukraine.
The U.S. and its allies are discussing a coordinated release of about 60 million barrels of oil from their emergency stockpiles after Russia’s invasion of Ukraine pushed crude prices above $100.February 28, 2022