Anticipates restocking global oil market without Russian supply. Energy Secretary Jennifer Granholm recently said the United States is set to produce around 12.7 million barrels of oil per…
Read MoreStrategic Petroleum Reserve
Treasury Finds Gas Prices Improved with SPR Releases
Officials estimate fuel releases kept prices 20 to 40 cents lower. The Department of the Treasury released calculations this past week that estimate tapping into the Strategic Petroleum…
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House Votes to Sell Reserve Oil to China
Strategic Petroleum Reserve is at its lowest since 1985. While average gas prices at the pump have decreased from their $5 peak, gasoline is still significantly more expensive…
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American Oil Reserves Being Sent Overseas
Strategic Petroleum Reserve being reduced by 1 million barrels daily. Since March 31, the United States is releasing 1 million barrels of oil per day from its strategic…
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President Orders Strategic Petroleum Reserve Release
Size of release intended to lower gas prices and stem inflation. President Biden is ordering the release from the Strategic Petroleum Reserve of one million barrels per day…
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U.S. and Allies Release 60 Million Oil Barrels from Reserves
Covers deficiencies from cutting off the Russian oil trade. The White House and the International Energy Agency (IEA) announced on Tuesday that they would be dipping into global…
Read MoreEnergy Department Bolsters Fuel Supply
Approves 13.4 million barrels from reserve exchange. The Department of Energy approved additional exchanges of 13.4 million barrels of crude oil from the Strategic Petroleum Reserve (SPR) last…
Read MorePresident Biden Releases Oil from Strategic Reserve
50 million barrels released to ease rising gas prices around the country. On Tuesday, President Biden signed a new executive order releasing 50 million barrels of oil from…
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President Expected to Tap Strategic Petroleum Reserve
The goal is to reduce prices at the gas pump. President Joe Biden is expected to release oil from the Strategic Petroleum Reserve in the coming days. The U.S.…
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Senator Schumer Wants Relief at Gas Pumps
He is looking at the Strategic Petroleum Reserve. Senate Majority Leader Chuck Schumer said at a press conference he was calling on President Biden to tap into the…
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