U.S. to release oil from reserves in coordination with other countries to lower gas prices

Summary
President 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.
Published 1 year ago · Washington, United States Photography Forbes Middle East

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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.

1 year ago·Mumbai, India
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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.

1 year ago·United Kingdom
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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.

1 year ago·India
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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.

1 year ago·United Kingdom
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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

1 year ago·London, United Kingdom
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U.S. to release 50 mn barrels of oil to ease soaring prices

‘Coordinated move along with China, India, Japan and U.K.’

1 year ago·India
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