Oil has been falling, they did this to add to the momentum, which it did. QE2 is ending, so the fuel that’s been lighting the fire is burning out.
At best this is a temporary measure, not a long term solution. Still, I’m curious as to the motive, though we probably will likely never know.
His little piss poor release of a day-and-a-half's worth of oil will be touted as the reason for price drops - even though they (prices) have been in decline for a few weeks now. That's the reason.