That's not what the Strategic Petroleum Reserve is for.

The President has ordered the release of 50,000,000 barrels of oil from the Strategic Petroleum reserve, in conjunction with nations which are oil-poor through no fault of their own.

Here is the text of the Strategic Petroleum Reserve law, to the extent enactments of our national legislature still govern the actions of the Imperial Presidency.

And here are the statutory requirements for drawing upon the Reserve.

But here's the bottom line:

The Biden administration has argued that the supply of oil has not kept pace with demand as the global economy emerged from the pandemic, and the reserve is the right tool to help ease the problem.

Americans used an average of 20.7 million barrels a day during September, according to the Energy Information Administration. That means that the release nearly equals about two-and-a-half days of additional supply.

The decision comes after weeks of diplomatic negotiations and the release will be taken in parallel with other nations. Japan and South Korea are also participating.

The U.S. Department of Energy will make the oil available from the Strategic Petroleum Reserve in two ways; 32 million barrels will be released in the next few months and will return to the reserve in the years ahead, the White House said. Another 18 barrels will be part of a sale of oil that Congress had previously authorized.

A trickle of oil over several months...and buying more to replenish it at who knows what kind of prices.

I don't think it is going to help much.