Highlights SPR release plans could change if prices drop: Turk China, other countries may also base releases on oil prices GOP senators introduce bill putting limits on ability to tap SPR A dip in crude oil prices amid concerns over possible demand impacts from the omicron variant of the coronavirus could cause the US to adjust the timing of a release from its Strategic Petroleum Reserve if pain at the pump for US consumers also begins to ease, US Deputy Energy Secretary David Turk said Dec. 1. Turk’s remarks came as a group of Senate Republicans floated legislation that would handcuff the Biden administration’s ability to tap the SPR without first taking steps to bolster domestic oil and gas production. The White House announced Nov. 23 that the US would release 50 million barrels from the SPR […]