The U.S. administration has approved the release of another 13.4 million barrels of crude from the strategic petroleum reserve in a move first announced last November by the White House as an attempt to ease upward pressure on fuel prices. Bloomberg reported the release will be distributed among seven companies, noting that this would be the second-largest SPR release ever, bringing the total released so far to 40 million barrels.
In November, the Department of Energy said it would make available releases of 50 million barrels from the SPR, of…U.S. Releases Another 13.4 Million Barrels From SPR
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