Sign Up for FREE Daily Energy News
Canadian Flag CDN NEWS  |  US Flag US NEWS  | TIMELY. FOCUSED. RELEVANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • youtube2
BREAKING NEWS:

Vista Projects
Hazloc Heaters
Copper Tip Energy Services
Copper Tip Energy
Vista Projects
Hazloc Heaters


U.S. to announce oil release as soon as Tuesday


English Español 简体中文 हिन्दी Português
These translations are done via Google Translate

WASHINGTON, Nov 22 (Reuters) – U.S. President Joe Biden is preparing to announce the release of oil from the nation’s Strategic Petroleum Reserve in concert with several other countries as soon as Tuesday, Bloomberg reported on Monday, citing multiple unnamed sources.

The Biden administration has asked a wide range of countries, including China, to consider releasing stocks of crude. The White House has also repeatedly pressed the OPEC producer group – which plans to meet on Dec. 2 – to maintain adequate global supply.

Oil prices rose on Monday on reports that OPEC+ could reassess its output.

GLJ

Bloomberg, citing sources familiar with the pending announcement, said this week’s likely move would probably be coordinated with similar action by India, Japan and South Korea,

GLJ

Officials at the White House and U.S. Department of Energy did not immediately reply to requests for comment on the report.



Share This:



More News Articles


GET ENERGYNOW’S DAILY EMAIL FOR FREE