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oil reserves
Government, Fuel

US to Buy 3 Million Barrels of Oil for Reserve in August

Strategic Petroleum Reserve storage in Texas

The U.S. is soliciting bids for up to 3 million barrels of sour crude oil to refill its depleted Strategic Petroleum Reserve in August.

Jennifer Jacobs and Ari Natter | Bloomberg News
May 16, 2023
Government, Fuel

Biden Adviser Says US Won’t Rush to Fill Petroleum Reserve

Amos Hochstein listens as President Joe Biden speaks in the Roosevelt Room of the White House

The U.S. is committed to replenishing the Strategic Petroleum Reserve but won’t rush to do so despite the recent decline in oil prices, Biden administration adviser Amos Hochstein said.

Courtney McBride | Bloomberg News
March 17, 2023
Government, Fuel

House Republicans Seek New Restrictions on Use of Oil Stockpile

A pumpjack seen in an oil field

WASHINGTON — For the second time this January, House Republicans have advanced a measure to restrict presidential use of the nation’s emergency oil stockpile.

Matthew Daly | Associated Press
January 30, 2023
Government, Fuel

GOP Energy Bills Will Raise Gas Prices, White House Says

A person holds a fuel pump nozzle

U.S. gasoline prices are back on the agenda in Washington as both political parties go on the offensive.

Ari Natter and Jennifer Jacobs | Bloomberg News
January 24, 2023
Government, Business, Fuel

Biden Says More Oil Releases Possible to Cut Gas Prices

President Joe Biden speaks to members of the media

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.

Jenny Leonard and Ari Natter | Bloomberg News
October 19, 2022
Government, Fuel

White House to Tap Oil Reserve Again Amid High Fuel Prices

Stacks of steel pipes

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.

Bloomberg News
October 18, 2022
Government, Business, Fuel

Biden Administration Lays Out Plans to Refill Oil Reserve

Image

The Biden administration announced a plan May 5 to begin purchasing oil to refill the nation’s emergency reserve.

Ari Natter and Sheila Tobben | Bloomberg News
May 5, 2022
Fuel

Nations to Release Millions of Barrels of Oil Amid War

Image

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.

Associated Press
April 7, 2022
Government, Business, Fuel

Biden Plans to Tap Oil Reserve to Control Gas Prices

Image

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.

Zeke Miller and Josh Boak | Associated Press
March 31, 2022
Government, Business, Fuel

US Considers New Oil Release From Strategic Reserve

Image

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.

Jennifer Jacobs and Ari Natter | Bloomberg News
March 25, 2022

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