DOE Awards Contracts For 30 Million Barrels From SPR Oil Release

The Department of Energy has awarded contracts for a total of 30 million barrels of crude oil to be released from the strategic petroleum reserve in a bid to pressure high retail fuel prices. In a press release, the DOE said, “The Biden Administration has taken significant steps to address the pain Americans are feeling at the pump as a result of Putin’s Price Hike and to help lower energy costs. That includes President Biden authorizing the release of 1 million barrels per day from the SPR for the next six months. That action was joined…