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White House to Tap Oil Reserve Again Amid High Fuel Prices

  • Gas, diesel export limits decision unlikely before November
  • Klain says Biden will speak on gasoline prices Wednesday
Bloomberg business news
NEC's Deese Says SPR Use Was a 'Temporary Bridge'
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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.  

The move would effectively represent the tail end of a program announced in the spring to release a total of 180 million barrels of crude from the Strategic Petroleum Reserve. About 165 million barrels has been delivered or put under contract since the program was put into effect.