Daily Management Review

Biden: US to release some of its strategic oil reserves


In an attempt to curb the rise in energy prices, the U.S. intends to conduct commodity interventions at the expense of the strategic reserve of oil.

Gage Skidmore
Gage Skidmore
The country is now negotiating similar measures with other major global consumers, U.S. President Joe Biden said.

In a speech on the situation in Ukraine, he said, "We are collaborating with the world's largest oil producers and consumers to meet the common task of securing stable global energy supply."

"We're collaborating with countries all around the world to unlock some of the world's strategic oil reserves. In addition, the United States will supply extra oil barrels to the market", Biden assured.

source: cnn.com