Biden spurs record emergency oil release in 'moment of peril' for world

Starting in May 2022, the United States will release 1 million barrels per day of crude oil for six months from the Strategic Petroleum Reserve.

– its largest yet. The US portion of the release was about half of that.

“This is not the time to sit on record profits, it is time to step up” for the good of your country,” Biden urged oil executives. The American Petroleum Institute, the sector’s main lobbying group, said the SPR tap could provide some near-term supply relief, but was not a long-term solution.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

rapplerdotcom /  🏆 4. in PH

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Comelec briefs diplomatic corps on automated election system for May 2022The Commission on Elections (Comelec) has recently briefed the diplomatic corps—comprised of 27 countries—about the automated election system for the upcoming May 2022 polls.
Read more »

Twitter reinforces policies to fight misleading information ahead of May 2022 pollsSocial media platform Twitter on Thursday has announced its plan to reinforce policies in campaign against the spread of misleading information days ahead of the national and local elections in May 2022.
Read more »

Pagasa: Scorching heat in Metro Cebu may continue until MayCEBU, Philippines—Can you feel the summer heat?The Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) in Mactan on Wednesday, March 30, said heat index in
Read more »

Duterte staying ‘neutral’ in May polls‘NEUTRAL AKO.’ President Duterte announced that he would not be endorsing any presidential candidate in the May 9 elections amid calls of allies to support the only son of the late dictator Ferdinand Marcos. VotePH READ:
Read more »

[New School] Hindi sagabal ang taong may kapansanan dahil lang sa sakit niya'Bakit sa lahat ng oras at panahon, ako ang dapat mag-aayos sa aking sarili para makilahok sa komunidad?' NewSchool piece by Ronald G. De Guzman Jr.
Read more »

Construction of Cebu BRT may start this JuneCEBU CITY, Philippines - The Department of Transportation (DOTr) reiterated its commitment to begin civil works for the Cebu Bus Rapid Transit (BRT) this year.The agency, in a statement published
Read more »