With oil markets in disarray, the US could be plotting Jones Act waivers after the “unprecedented” decision to release 1m barrels of oil per day from reserves for the next six months.

The White House said on Thursday that due to the “historic volumes” entering the market the federal government is ready to process individual waivers within two days to make sure the oil gets into the market as quickly as possible.

“Based upon the support offered by American carriers and labour unions, we expect the Jones Act-qualified vessels will be available to meet those needs,” a senior White House official told reporters.