U.S. midterms: Biden to tap into U.S. Strategic Petroleum Reserve to battle rising gas prices

U.S. President Joe Biden announced on Wednesday the United States will sell 15 million barrels from the nation’s Strategic Petroleum Reserve (SPR) by the year’s end and detailed a strategy to refill the stockpile when prices drop. Biden’s plan is intended to add enough supply to prevent oil price spikes that could hurt consumers and businesses, in the wake of a decision by OPEC+ oil-producing nations, let by Saudi Arabia, to cut oil production ahead of U.S. midterm elections.