EXPLAINER: What is the Strategic Petroleum Reserve?

By CATHY BUSSEWITZ
AP Business Writer

NEW YORK (AP) — President Joe Biden has ordered the release of 50 million barrels of oil from America’s strategic reserve. The move aims to reduce energy costs, which are a growing burden for millions of Americans embarking on Thanksgiving travel. The U.S. action was done in rare coordination with several other nations. It’s among the few actions that a presidential administration can take to try to lessen the squeeze, and political threat, of rising inflation. But the likelihood of providing meaningful relief in the near future is probably low.