It is the prerogative of the U.S. Administration whether to draw crude oil from its Strategic Petroleum Reserve (SPR), Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, said on Monday, as carried by Reuters. U.S. President Joe Biden said at the end of November that the Department of Energy would release 50 million barrels of oil from the SPR in a bid to lower high gasoline prices in a coordinated effort with other major oil-consuming nations.
The SPR release from the United States will be carried out in parallel with…Saudi Arabia: It’s U.S. Prerogative To Release Oil From Its SPR
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