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U.S. could change timing of oil stockpile release if prices drop -official -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This aerial shot of Freeport (Texas), U.S.A, April 27, 2020 shows Bryan Mound Strategic Petroleum Reserve. It is an oil storage facility. REUTERS/Adrees Latif

By Timothy Gardner

WASHINGTON (Reuters] – If global energy prices decline significantly, the Biden administration might adjust when it releases strategic stockpiles. This was stated by David Turk, U.S. Deputy Secretary for Energy.

Turk, speaking in a video interview for the Reuters Next conference https://reutersevents.com/events/next to be broadcast later on Wednesday, added that other consumer nations that had agreed to release strategic reserves in concert with the United States to tame prices could also adjust their timing if needed.

“I think each country will make decisions based on what’s useful and good for their consumers and based on where the price is,” he said.

To watch the Reuters Next conference please register here https://reutersevents.com/events/next/

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