Oman’s Energy Minister Mohammed bin Hamad Al Rumhi said on Monday, OPEC and its allies (OPEC+) are not concerned about a likely release of oil supplies from the US Strategic Petroleum (SPR) release.

This comes after US Senate Majority Leader Chuck Schumer urged President Joe Biden’s administration to approve fuel sales from the nation’s SPR. 

Last week, American Energy Secretary Jennifer Granholm said that US President Biden is looking at the SPR release while calling on  oil-producing nations to immediately increase crude supplies to mitigate the surging cost of living.

more to come …

This article was originally published by Fxstreet.com.Read the original article here.

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