Biden Starts the Largest Drawdown in the Reserve's History
CONFIRMED88% CONFIDENCEDOE's press release is dated 1 March 2022, the day the President authorised the release; the notice of sale followed on 2 March.[1]
Four days after Russia invaded Ukraine, Biden ordered crude out of the SPR as the US share of an IEA release of 60 million barrels. It did not stop there: by that summer 180 million barrels had gone, the biggest emergency sale the reserve had ever made, and it left the stockpile at levels not seen since the 1980s.
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