Further SPR crude releases possible as part of three-step plan to lower fuel costs: Biden

The US will, if conditions warrant, consider further releases of crude from the Strategic Petroleum Reserve even as an historic 180-million-barrel drawdown comes to an end, President Joe Biden said Oct. 19. A newly announced 15-million-barrel sale for delivery in December will complete Biden’s commitment to release roughly 1 million b/d from the SPR over a six-month period. Some 165…