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White House does not plan additional oil reserve releases beyond 6-month window

Reuters · Reuters Staff · last updated

WASHINGTON, July 26 (Reuters) — The Biden administration does not plan to continue releases from the Strategic Petroleum Reserve (SPR) beyond the original six-month period, White House economic adviser Brian Deese said on Tuesday.

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Related Knowledge Center: Energy security and pricing

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The United States achieved net energy independence in 2020, but that has not insulated the nation from the roiling of energy markets in the wake of the Russian invasion of Ukraine. Europe has been a large consumer of Russian natural gas, and the effort to wean itself, with the help of the United States, has strained markets and endangered global efforts to address the climate crisis.

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