U.S. to release oil from reserves in coordination with other countries to lower gas pricesPresident Joe Biden said Tuesday that the administration will tap the Strategic Petroleum Reserve as part of a global effort from energy-consuming nations to calm 2021′s rapid rise in fuel prices.
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U.S. to release 50 million barrels of oil from emergency reserve - White House
WASHINGTON (Reuters) -The United States will release 50 million barrels of crude from the U.S. Strategic Petroleum Reserve to help cool oil prices, that will start hitting the market in mid- to late-December, the White House said on Tuesday. It was the first time the United States has coordinated releases with some of the world's largest oil consumers, the officials said.
US to release 50 million barrels of oil to ease energy costs
The move is an effort to bring down rising gas prices. Gasoline prices nationwide are averaging about $3.40 a gallon, more than double their price a year ago, according to the American Automobile Association.
US to release oil reserves in attempt to lower prices
The move is being taken together with other major energy consuming nations, including China and the UK.
Biden to release 50m barrels of oil in effort to bring down rising US gas prices
Biden administration says oil supply hasn’t kept up with demand as economy recovers from pandemic, with gas prices double what they were in 2020
U.S. to release 50 mln barrels of oil from emergency reserve - White House
The White House on Tuesday said it would make 50 million barrels of oil available from the U.S. Strategic Petroleum Reserves to help cool oil prices.
US to Release 50 Million Barrels of Oil from Emergency Reserve
The United States will release 50 million barrels of crude from the U.S. Strategic Petroleum Reserve to help cool oil prices, that will start hitting the market in mid to lateDecember, the White House said on Tuesday.
Biden to release 50 million barrels of oil in effort to ease gas prices - National
Biden's move is aimed at global energy markets, but also at voters who are coping with higher inflation and rising prices ahead of Thanksgiving and winter holiday travel.
U.S. to release 50 mn barrels of oil to ease soaring prices
‘Coordinated move along with China, India, Japan and U.K.’
India To Release 5 Million Barrels Crude With US, Japan To Dampen Prices
The decision has come amid reports that the US has urged these nations to release crude oil from their respective reserves. The move is being considered to bring down global prices of the commodity.
US to release 50M barrels from strategic oil reserve amid soaring gas prices
President Joe Biden has been under mounting political pressure to provide relief from higher gas prices and soaring inflation