10/4, 9:10 PM (Source: TeleTrader)
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WH not considering new SPR releases

White House Press Secretary Karine Jean-Pierre (pictured) said Tuesday that the Biden administration is not considering the release of the Strategic Petroleum Reserve (SPR).

"We're not going to be considering new releases," the press secretary asserted at a press conference. The development comes amid market expectations that oil prices will rise.

Earlier, it was known that Saudi Arabia and Russia are preparing deep oil production cuts to be announced at a meeting of the OPEC+ group on Wednesday, a move that will likely trigger the adoption of countermeasures by the US.

Baha Breaking News (BBN) / JG