White House is not considering further releases of emergency oil at this time, official says
EU countries agree to reduce gas consumption to prep for winterReplayMore Videos ... (15 Videos)EU countries agree to reduce gas consumption to prep for winterIEA director says Europe needs to lower gas consumption to prepare for winterNord Stream 1 makes Europe more reliant on Russian gas. Here's whyThis country is preparing for Russia to cut off its gas supply soonHungarian foreign minister on why the country is still buying Russian energyThree reasons gas prices are expected to stay high'Not acceptable': Biden calls out oil refinery profit margin in letterFact-checking Biden's claim that Putin shares blame for inflationHear why this gas station owner is selling gas at a lossThis is what determines the price of gasOECD secretary-general explains global cost of the Russian oil embargoHow gas prices and inflation could impact midterm electionsHow to save money on gas by being more fuel efficientOil industry consultant: 'Can't drill our way out of' Russian oil banEU reaches deal on Russian oil ban. What will replace it? (CNN)The Biden administration is not debating whether to unleash another round of emergency oil from the national stockpile at this time, an administration official told CNN on Thursday.
In response to the war in Ukraine, US President Joe Biden announced a plan on March 31 to release one million barrels of oil per day for six months from the Strategic Petroleum Reserve. That amounts to an unprecedented release of 180 million barrels of oil.The SPR release plan is scheduled to lapse in October — even as uncertainty about Russia's supply of energy remains very high.Reuters reported on Thursday that Energy Secretary Jennifer Granholm told the news agency that the Biden administration is weighing further releases.However, officials are now pushing back on that characterization, with a Biden administration official telling CNN that at this time the White House is not considering new releases from the SPR beyond the 180 million barrels announced in March.Click Here To Get Funded!