President Joe Biden announced Wednesday that he’s releasing 15 million barrels of oil from the nation’s emergency reserves. This will complete the 6-month draw down of 180 million barrels that Biden ordered in March. Between March 4 and Oct. 7, the U.S released 168.8 million barrels, according the the U.S. Energy Information Administration. How much oil is in the Strategic Petroleum Reserve in 2022According the the U.S. Energy Information Administration, levels have not been this low since June 1984.Notable releases from the Strategic Petroleum ReserveHow the oil is stored in reservesThe Strategic Petroleum Reserves are stored in 60 salt caverns along the Gulf Coast. The central location allows for oil distribution to nearly half of all U.S. refineries using interstate pipelines or barges.

Source: Libya Today October 19, 2022 20:43 UTC