The Biden administration is considering releases of its emergency supply of oil again in coordination with allies to shun down volatile crude oil prices amid Russia- Ukraine tensions, according to Bloomberg.
However, no decision has been made and “robust conversation” within the administration are under way, reported Bloomberg. The news report added modeling is being done to ascertain size and scope of any potential release.
When asked if the United States is considering another release of its Strategic Petroleum Reserve (SPR) to stem rising gas prices given the Ukraine crisis, White House Press Secretary Jen Psaki said “that is certainly an option on the table”.
“What we’re trying to do and focus on is take every step we can working around the world with our counterparts and partners to minimize the impact on the global energy market,” Ms Psaki said.
