The unprecedented decision by Biden to release 180 million barrels of oil from the country’s strategic petroleum reserve over the next six months has sent oil prices below $100. While plenty of upside risks remain, oil prices are on course to see their largest weekly decline in two years. Oilprice Alert. The decision by Biden to release 180 million barrels of oil from the SPR demonstrates just how desperate the situation in oil markets has become. Make sure you sign up for Global Energy Alert to read this week’s analysis of what it all means. Friday, April 1st, 2022 In a week that saw OPEC+ implementing its latest production increases and the United States announcing an unprecedented SPR release, oil prices saw their largest weekly decline in more than 2 years. Whilst the OPEC+ decision was far from a surprise, the readiness of the Biden administration to tame runaway […]