President Biden will tap up to 180 million barrels of government oil reserves over six months to address the rise in energy prices following Russia’s invasion of Ukraine, the White House said Thursday.
The decision to release oil from the U.S. Strategic Petroleum Reserve starting in May—an expected average of 1 million barrels a day—was made by the president after consulting with allies and partners, the White House said.
“These barrels will be a wartime bridge to additional U.S. production,” a senior administration official said.
