White House weighs plans to double heating oil storage- CNBC

U.S. President Joe Biden speaks as he visits the SK Siltron CSS facility in Bay City, Michigan, U.S., November 29, 2022. REUTERS/Evelyn Hockstein

Nov 30 (Reuters) - The White House is considering asking Congress to double the amount of storage of heating oil in northeast reserves to build up reserves over winter, CNBC reported on Wednesday citing two people familiar with the matter.

The United States is also weighing future Strategic Petroleum Reserve drawdowns in the new year if oil prices spike post-embargo, the report said.

Reuters had earlier reported that the White House was weighing a plan to increase inventories in the Northeast Home Heating Oil Reserve.

Reporting by Shivani Tanna in Bengaluru; Editing by Andrew Heavens

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