President Joe Biden has directed the Department of Energy to release an additional 10 million barrels of oil from the Strategic Petroleum Reserve (SPR) in November in the wake of OPEC's decision to cut crude oil production by 2 million barrels per day.This is in addition to 180 million barrels of oil that the Biden administration released since April.National Security Advisor Jake Sullivan and NEC...
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Political News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.