Biden announced the drawdown from the strategic reserve, senior administration officials outlined Biden’s plans. It completes the release of 180 million barrels authorized by Biden in March that was initially supposed to occur over six months. That has sent the strategic reserve to its lowest level since 1984 in what the administration called a “bridge.” That followed by 15 million barrels to follow.
That is bridging to the election day.
The reserve now contains roughly 400 million barrels of oil.
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