The United States is ready to release even more barrels of crude oil from its emergency stockpiles, a senior advisor from the State Department told CNBC today. The Biden Administration announced last week that it would release 50 million barrels of crude oil from the Strategic Petroleum Reserves to bring down gasoline prices. But according to Amos Hochstein, the U.S. State Department’s senior advisor for global energy security, the United States has enough to release even more. 32 million barrels of the 50 million barrels that will be released from the emergency stockpiles will be released in the form of an exchange-meaning those barrels will be replenished at some point. “This is a tool that was available to us and will be available again,” Hochstein said. The bold statement that the United States could release even more crude oil comes not only days before OPEC+ meets again to decide […]