Releasing Global Oil Reserves
Amid rising prices, strategic oil reserves are being released.
The International Energy Agency moved to coordinate the release of a record 400 million barrels of oil. The US will contribute 172 million barrels from its emergency reserve as part of the effort.
President Donald Trump is also poised to use a Cold War-era law to let Houston-based Sable Offshore restart oil production off the Southern California coast. But it’s unclear whether the move—which the government has been battling with California over—would offer much relief, Jennifer A. Dlouhy and Nathan Risser report.
IEA Executive Director ...
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