President Biden will announce the release of 50 million barrels of oil from US reserves today in a coordinated effort with other nations, the White House says
President Joe Biden on Tuesday will announce the release of emergency oil reserves to combat high energy prices ahead of the busy holiday travel season.
The Department of Energy will release 50 million barrels of oil from the Strategic Petroleum Reserve, according to the White House. The release is aimed at addressing the lack of oil supply around the world. This release will be in coordination with several other countries, including China, India, Japan, the Republic of Korea and the United Kingdom.
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