Production

Oil prices drop over Biden's unprecedented Strategic Petroleum Reserve release

Opec holds firm on 432,000 barrel per day production increase

Major withdrawal: The Biden administration will release 180 million barrels of oil from the US Strategic Petroleum Reserve. Shown here is the Bryan Mound storage facility in Brazoria County, Texas, one of four SPR sites in the US
Major withdrawal: The Biden administration will release 180 million barrels of oil from the US Strategic Petroleum Reserve. Shown here is the Bryan Mound storage facility in Brazoria County, Texas, one of four SPR sites in the USPhoto: US DEPARTMENT OF ENERGY
Houston
Published 31 March 2022, 17:27Updated 31 March 2022, 21:00
Joe BidenStrategic Petroleum ReserveUSAOpec+Oil Price