Biden admin weighs 180 million bbl draw of oil from emergency reserves over months

© Reuters. FILE PHOTO: A maze of crude oil pipes and TR Forex pays commissions on the 5th of every monthvalves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson

WASHINGTON (Reuters) - The Biden administration is weighing a draw of oil from emergency reserves of up to 180 million barrels over several months, two U.S. sources said on Wednesday.

The move is an attempt to control oil prices that have shot over $100 a barrel on Russia's invasion of Ukraine and on high global demand.

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!