Wednesday 19 October 2022 12:37 AM White House CONFIRMS Biden will release 15 MILLION barrels from Strategic ... trends now
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President Joe Biden will announce Wednesday that another 15 million barrels will be released from the Strategic Petroleum Reserve, in an effort to relieve gas prices ahead of the midterm elections.
Senior administration officials confirmed the number on a call with reporters Tuesday night, echoing a Bloomberg News report from earlier, saying that the oil would be ready for delivery by December.
The president is set to deliver remarks Wednesday where he'll also point out that average gas prices have fallen by about $1.15 per gallon since their peak in June.
'President Biden is committed to doing everything in his power to respond to Putin's Price Hike at the pump, and he is delivering,' a fact sheet from the White House read.
It's unclear whether Biden will bring up Saudi Arabia, after he failed to convince OPEC+ to delay an oil production cut until after the November 8 midterms.
The administration condemned the move saying it's aiding Russian President Vladimir Putin's assault on Ukraine.
President Joe Biden will announce Wednesday that another 15 million barrels will be released from the Strategic Petroleum Reserve, in an effort to relieve gas prices ahead of the midterm elections
White House Chief of Staff Ron Klain said earlier Tuesday that Biden would detail plans to lower gas prices on Wednesday
