US oil reserves

Biden to release 15 million barrels from US oil reserves to curb price hike

The emergency oil reserves usually kept for situations such as shutdowns at oil refineries was Biden's gambit to calm markets and shield the world's biggest economy from Ukraine war shocks. 

published on : 19th October 2022

Biden orders release of 1 million barrels of oil per day from US strategic reserve for 6 months to tame gas prices

The underground salt caverns currently hold less than one month's worth of oil at current US consumption levels.

published on : 1st April 2022