WASHINGTON - President Joe Biden plans to announce the release of 15M barrels of oil from the U.S. strategic reserve Oct. 19 as part of a response to recent production cuts announced by OPEC+ nations. He will likely say more drawdowns are possible as the administration rushes to pull out all stops ahead of November's midterm elections, according to senior administration who spoke Oct. 18 on condition of anonymity to outline the president's plans. It completes the release of 180M barrels authorized by Biden in March that was to only occur over six months sending the strategic reserve to its lowest level since 1984. The reserve now contains roughly 400M barrels of oil. (The AP 10/19/22) Biden to release 15M barrels from oil reserve, more possible | AP News
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