WASHINGTON — The U.S. is committed to replenishing the Strategic Petroleum Reserve but won’t rush to do so immediately despite the recent decline in oil prices, a top Biden administration official said.
“Why don’t we take this one day at a time,” Special Presidential Coordinator for Global Infrastructure and Energy Security Amos Hochstein said in an interview on Bloomberg Television’s “Balance of Power.”
“We’ve seen a decline in oil prices, we’re seeing some crunch there,” Hochstein said. “We should take a deep breath and wait and see how this crisis right now impacts the oil and gas industry, production and what the profile is. So far prices have come down. We’re watching it very closely, we’ll continue to watch it over the next several days.”
