Biden Administration to Release More Oil from Strategic Stockpile to Manage Inflation Ahead of Election

Jun 17, 2024, 04:17 AM

The Biden administration is prepared to release more oil from its strategic stockpile to prevent a rise in petrol prices this summer, as it aims to manage inflation ahead of the November election. Amos Hochstein, a top advisor to President Biden, discussed this strategy in a recent interview with the Financial Times. Hochstein emphasized the administration's commitment to ensuring the market is well-supplied to keep prices low for American consumers.