Washington will stop tapping its reserves and focus on ramping up production The US does not plan to extend oil releases from its Strategic Petroleum Reserve (SPR), which are scheduled to end in the fall, Amos Hochstein, US President Joe Biden’s Special Presidential Coordinator for International Energy Affairs, said in an interview with Yahoo Finance on Friday. “We can’t be an oil supplier. It’s a reserve and so we have to keep that,” Hochstein was cited as saying. He noted that tapping the reserve “was really a stop-gap measure,” and other steps must be taken in order to lower the prices at the pump. According to
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