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esident Joe Biden will announce tomorrow that the administration will release 10 million to 15 million barrels of oil from the strategic reserve.
Fixed: Biden admin to release another 10-15 million oil barrels from nation’s emergency stockpile in bid to minimize midterm election losses https://t.co/9LjV0ly07y— William A. Jacobson (@wajacobson) October 18, 2022
The boss hits the nail on the head. From Bloomberg News:
The Biden administration is moving toward a release of at least another 10 million to 15 million barrels of oil from the nation’s emergency stockpile in a bid to balance markets and keep gasoline prices from climbing further, according to people familiar with the matter.