Washington | President Joe Biden has ordered the release of 1 million barrels a day from the US Strategic Petroleum Reserve to try to offset the loss of Russian crude from world markets, starve Russia of revenue and cut the cost American consumers are paying at the petrol pump.
The release – the biggest withdrawal in the reserve’s more than 46-year history – would continue for the next six months, administration officials said, an indication that the Biden administration anticipates a prolonged conflict in Ukraine.
