The U.S. vowed on March 1 to release 30 million barrels of oil as part of a global 60 million barrel pledge in an effort to shore up energy markets amid the ongoing Russia invasion of Ukraine, and said it could take further steps as needed.
“We are prepared to use every tool available to us to limit disruption to global energy supply as a result of [Russian] President [Vladimir] Putin’s actions,” White House spokeswoman Jen Psaki said in a statement.
“We will also continue our efforts to accelerate diversification of energy supplies away from Russia and to secure the world from Moscow’s weaponization of oil and gas," the statement added.
The United States and 30 member countries of the International Energy Agency agreed to release 60 million barrels of oil from their strategic reserves to stabilize global energy markets, the U.S. Department of Energy said in a separate statement.
“We stand prepared to take additional measures if conditions warrant,” U.S. Energy Secretary Jennifer Granholm said.
Recommended Reading
Dividends Declared Week of July 14
2025-07-18 - With second-quarter earnings underway, here is a compilation of dividends and distributions declared from select upstream, midstream and service and supply companies.
FTC Nixes Orders Banning Hess, Sheffield from Chevron, Exxon Boards
2025-07-18 - The FTC voted 3-0 to set aside orders barring oil veterans John Hess and Scott Sheffield from serving on the Chevron and Exxon boards, respectively.
GeologicAI Raises $44MM in Critical Minerals Development Push
2025-07-17 - GeologicAI’s Series B funding round was led by Blue Earth Capital with participation from mining companies BHP Ventures and Rio Tinto.
Kinetik Dual Lists Stock with Launch on NYSE Texas
2025-07-17 - Midstream company Kinetik Holdings becomes one of the first listings on the newly opened NYSE Texas exchange.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.