US asks Asia's largest economies to consider releasing oil reserves: report

Biden asked China to release oil reserves to ease prices, boost economic cooperation: report

President Biden appealed to Chinese President Xi Jinping to release crude oil from its strategic reserves in a move that would aim to stabilize rising oil prices, the South China Morning Post reported. China is the world's largest net importer of oil.

Biden Asks Asian Countries To Release Oil Reserves As Administration Scrambles To Combat High Gas Prices: REPORT

Thomas Catenacci  The Biden administration asked China, Japan, South Korea and India to tap into their emergency… Biden Asks Asian Countries To Release Oil Reserves As Administration Scrambles To Combat High Gas Prices: REPORT

Biden Asks Asian Countries To Release Oil Reserves As Administration Scrambles To Combat High Gas Prices: REPORT

The Biden administration asked Asian nations to tap into their emergency oil reserves as the president continues to grapple with rising gasoline prices.

US asks Asia's largest economies to consider releasing oil reserves: report

The U.S. has asked Asia's largest economies to consider releasing oil reserves to combat rising energy prices, Reuters reported, citing unidentified sources.The sources told Reuters that talks are happening specifically with China, India, Japan and South Korea.One source reportedly said that 20 million to 30 million barrels of the oil held in reserves would need to be released in order to have an impact on the U.S. market.The U.S. and other...

Oil near 6-week low as China readies crude reserve release

The bid by the US to cool markets, asking China to join a coordinated action for the first time, comes as inflationary pressures - partly driven by surging energy prices - start to produce a political backlash.

China readies crude oil reserve release, but soft demand may dampen interest

China is likely working on releasing crude oil from its state reserves via auctions, but the move may not garner refiners' firm interest to bid up as domestic demand slows down amid pandemic related c