Since the White House’s historic commitment on October 18th to repurchase crude oil “when the price of West Texas Intermediate (WTI) crude oil is at or below about $67 to $72 per barrel” [https://www.whitehouse.gov/briefing-room/statements-releases/2022/10/...
This is the fourth piece in the Contingent Supply series, which looks at the operational requirements, financial needs, and economic opportunities involved in using the SPR to stabilize oil markets.
As the Biden Administration considers actions to lower oil prices (particularly in wake of the recent OPEC+ production cut), it can and should make every effort to boost domestic oil production.
This is the second piece in our Contingent Supply series, which looks at the operational requirements, financial needs, and economic opportunities involved in using the SPR to stabilize oil markets.
Recent developments in oil markets show how important it is to follow through on the second half of the SPR strategy.
