The Biden administration may release additional volumes of crude oil and heating oil this winter in case of a supply squeeze, CNBC has reported, citing four unnamed sources. Earlier this year, the administration said it would release 180 million barrels of crude from the strategic petroleum reserve in a bid to tame rising oil prices, prompting criticism that it is compromising energy security in order to reduce the price of gasoline. As a result of the drawdown, the SPR has declined by over 204 million barrels since the start of the year and it…
