U.S. Says It’s Ready to Tap SPR Again if Needed
- Biden’s energy envoy discussed oil market on CNBC Monday
- OPEC+ set to meet Wednesday to discuss virus response
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The Biden Administration’s energy envoy reiterated that the U.S. stands ready to release more crude from the Strategic Petroleum Reserve if the need arises.
“I think we wanted to do something that was impactful for the market and that also had the ability and the flexibility to allow us to do that again should the need arise for the American economy,” U.S. State Department Senior Advisor Amos Hochstein told CNBC Monday.