Biden expected to announce new release from oil stockpile

By JOSH BOAK and ZEKE MILLER
Associated Press

WASHINGTON (AP) — President Joe Biden is expected to announce Wednesday that he is releasing more oil from the U.S. strategic reserve as part of a response to recent production cuts announced by nations in OPEC+, as his administration rushes to be seen as pulling out all the stops ahead of next month’s midterm elections. The U.S. strategic reserve contains roughly 400 million barrels of oil, and Biden could order an additional release as early as Wednesday, when chief of staff Ron Klain said he is set to deliver remarks on his administration’s efforts to lower gas prices. Two administration officials previewed Biden’s expected action Tuesday on the condition of anonymity because they were speaking ahead of the initial announcement.