The United States Energy Department is planning to add 3 million barrels of oil to its reserves after allowing them to decline while China has been adding to its stockpiles.
The United States Energy Department is planning to add 3 million barrels of oil to its reserves after allowing them to decline while China has been adding to its stockpiles.
U.S. oil and gas production is increasing in some areas and decreasing in others, but new limits on parts of the drilling process could cut output significantly in the coming years.
Biden announced the first major release of 50 million barrels from the Strategic Oil Reserve in 2021. Lawmakers and experts are urging the admin to replenish the supply and keep oil out of hands of adversaries.