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Keyword: bidenadmspr

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  • Biden to release 10M more barrels from Strategic Petroleum Reserve in November in wake of OPEC+ cuts

    10/05/2022 10:45:26 AM PDT · by conservative98 · 138 replies
    Fox Business ^ | October 5, 2022 12:52pm EDT | Caitlin McFall
    President Biden on Wednesday said he would release 10 million more barrels of oil from the U.S.’s Strategic Petroleum Reserve (SPR) in November in a move to counter raising gas prices again. His decision was announced just hours after Organization of the Petroleum Exporting Countries (OPEC+) said it would be cut oil production by 2 million barrels a day. The cuts will restore the oil market for top producers like Saudi Arabia and Russia but are also expected to drive up costs at the pump globally. But Biden’s attempt to circumvent the spike in gases prices expected to hit the...