Economic security

U.S. and Allies Consider Possible Oil-Reserve Release

U.S. and Western officials are considering an eventual emergency release of stockpiled oil if new supplies can’t prevent another sharp rise in prices, according to people familiar with the matter.

The Trump administration is actively assessing whether to dip into the country’s emergency oil stocks while it simultaneously pushes other countries to boost their output, according to people familiar with the matter. The discussions are part of a broader effort to ensure oil markets remain well supplied amid a host of production disruptions around the world, and rising global demand.

Any draw down of the so-called Strategic Petroleum Reserve isn’t imminent, according to people familiar with the matter.