US SPR Release: Timing of oil stockpile release could be adjusted if prices drop

Joel Frank Independent Analyst

US Deputy Energy Secretary David Turk said on Wednesday that the timing of the strategic crude oil stockpile release could be adjusted if prices drop, according to Reuters. He added that the US "metric of success" is affordable consumer fuel prices, not how quickly oil stockpiles can be released. China, other countries could also time their releases based on oil prices, he said, before adding that the Biden administration will continue to consider other tools to manage energy prices including a potential oil export ban.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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