US urges Biden to continue to release oil from reserves

MOSCOW, 17 Sep — PRIME. A group of Congressional Democrats is calling on US President Joe Biden to continue releasing additional oil from strategic reserves until at least the end of this year, CNN reports.

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“We urge your administration to commit to releasing additional barrels of oil from the Strategic Petroleum Reserves (SPR) by at least the end of this year,” the channel quoted eight Democrats as saying in a letter.

According to congressmen, average US gas and oil prices are still above 2021 levels. Therefore, lawmakers consider it necessary to abandon the plan to stop the release of oil reserves next month.

In addition, congressmen urged Biden to use $121 million from the SPR fund to replenish supplies. The letter also voiced the administration’s proposal to agree to the purchase of gas and oil produced in the country.

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Earlier, the US Department of Energy reported that the country’s strategic oil reserve decreased by 8.4 million barrels, or 1.9%, to 434.1 million barrels. The index is at its lowest level since October 1984.


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