The Biden administration announced a plan May 5 to begin purchasing oil to refill the nation’s emergency reserve.
May 5, 2022oil reserves
Government, Business, Fuel 
Petroleum storage tanks at the Royal Dutch Shell PLC Southern California Distribution Complex in Carson, Calif. (Bing Guan/Bloomberg News)
Biden Administration Lays Out Plans to Refill Oil Reserve
Petroleum storage tanks at the Royal Dutch Shell PLC Southern California Distribution Complex in Carson, Calif. (Bing Guan/Bloomberg News) Fuel 
Fatih Birol, executive director of the International Energy Agency, says events in Ukraine "are becoming more distressing by the day." (Simon Dawson/Bloomberg News)
Nations to Release Millions of Barrels of Oil Amid War
Fatih Birol, executive director of the International Energy Agency, says events in Ukraine "are becoming more distressing by the day." (Simon Dawson/Bloomberg News)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 Government, Business, Fuel 
Pump jacks in Midland, Texas, by Angus Mordant/Bloomberg News
Biden Plans to Tap Oil Reserve to Control Gas Prices
Pump jacks in Midland, Texas, by Angus Mordant/Bloomberg NewsWASHINGTON — 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.
March 31, 2022 Government, Business, Fuel 
Daniel Acker/Bloomberg
US Considers New Oil Release From Strategic Reserve
Daniel Acker/BloombergThe 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.
March 25, 2022 Government, Business, Fuel 
A pumping unit sucks oil from the ground near Greensburg, Kan. (Charlie Riedel/Associated Press)
Nations Agree to Release 60 Million Barrels of Oil
A pumping unit sucks oil from the ground near Greensburg, Kan. (Charlie Riedel/Associated Press)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.
March 1, 2022 Government, Fuel 
Petroleum storage tanks at the Royal Dutch Shell PLC Southern California Distribution Complex in Carson, Calif. (Bing Guan/Bloomberg News)
US, Allies Discuss Oil Reserve Release of 60 Million Barrels
Petroleum storage tanks at the Royal Dutch Shell PLC Southern California Distribution Complex in Carson, Calif. (Bing Guan/Bloomberg News)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