White House does not plan additional oil reserve releases beyond 6-month window
White House economic advisor Brian Deese speaks during a briefing about the bipartisan infrastructure law at the White House in Washington, U.S., May 16, 2022. REUTERS/Elizabeth Frantz
Register now for FREE unlimited access to Reuters.com
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.
The administration said in late March it would release a record 1 million barrels of oil per day for six months from the SPR, held in hollowed-out salt caverns on the coasts of Louisiana and Texas.
“As we sit here today, we don’t have an intention to continue that further,” Deese said.
Register now for FREE unlimited access to Reuters.com
Reporting By Jarrett Renshaw
Editing by Chris Reese
Our Standards: The Thomson Reuters Trust Principles.
Read More: White House does not plan additional oil reserve releases beyond 6-month window