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US ready to reopen oil stockpile if petrol prices surge again: Report

The Biden administration is ready to release more oil from the US strategic stockpile to stop any jump in petrol prices this summer, the Financial Times reported on Monday.
Last Updated : 17 June 2024, 04:36 IST

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The Biden administration is ready to release more oil from the US strategic stockpile to stop any jump in petrol prices this summer, the Financial Times reported on Monday.

Senior Biden adviser Amos Hochstein told the newspaper that oil prices are "still too high for many Americans” and he would like to see them “cut down a little bit further”.

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Published 17 June 2024, 04:36 IST

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