White House Signals ‘Significant’ Drawdowns From Strategic Reserve Beyond 180 Million Oil Barrels

A gas pump is seen situated while pumping gas at a Shell gas station in Houston, Texas, on April 1, 2022. Brandon Bell/Getty Images

The White House on Tuesday signaled “additional significant” drawdowns from the U.S. Strategic Petroleum Reserve (SPR) beyond the 180 million barrels announced in March. But an expert says these drawdowns “failed to control oil prices.”

The final 15 million barrel tranche of the total 180 million barrel SPR drawdown is expected to be announced Wednesday, according to the White House.