US Energy Secretary Chris Wright said oil from the US Strategic Petroleum Reserve began flowing Friday afternoon. Wright noted that prices "have not risen high enough yet to drive meaningful demand destruction," suggesting the SPR release is intended to add supply and temper further price-driven demand declines.
US Energy Secretary Chris Wright said oil from the US Strategic Petroleum Reserve began flowing Friday afternoon. Wright noted that prices "have not risen high enough yet to drive meaningful demand destruction," suggesting the SPR release is intended to add supply and temper further price-driven demand declines.
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