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Historic oil release unlikely to solve energy crisis

William McInnes
William McInnesReporter
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Strategists are sceptical the largest strategic oil release in history will be able to arrest the global energy crisis, as Russian President Vladimir Putin ramps up pressure on European buyers to pay in more favourable terms.

US President Joe Biden announced on Thursday the US would release 1 million barrels of oil a day from its Strategic Petroleum Reserve over the next six months.

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William McInnes covers markets from Sydney including editing the Markets Live blog. Connect with William on Twitter. Email William at w.mcinnes@afr.com.au
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    Original URL: https://www.afr.com/markets/commodities/historic-oil-release-unlikely-to-solve-energy-crisis-20220401-p5aa2i