Page 5 - West Hackberry News Today

The first 90 million barrels will be released between May and July.

President Joe Biden will announce the single largest planned drawdown from the nations Strategic Petroleum Reserve on Thursday in a move designed to blunt record gasoline prices.

Previous moves to tap the nation's oil stockpile haven't dramatically lowered gas prices, research shows.

Global liquids storage capacity grew to 1,457,328Mcm in 2021 and is set to grow more by 2026, with China and India leading from 2016 to 2021.

The Biden administration’s release of crude from U.S. emergency reserves in an effort to cool oil’s rally is going into a second round, with bids due by the first working day of the year.

The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.

The move follows President Biden's action to release 50 million barrels of oil from the SPR.

The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.

The first oil from President Joe Biden’s release from the country’s emergency crude reserves is being granted to Exxon Mobil Corp.

The White House said it is frustrating that gas prices have not fallen despite the drop in oil prices upon news of the Omicron variant and despite President Biden’s decision to tap the Strategic Petroleum Reserve.