WASHINGTON (Pakistan Point News / Sputnik - 23rd November, 2021) US President Joe Biden announced on Tuesday the release of 50 million barrels of oil from the Strategic Petroleum Reserve in concert with other energy consuming nations, including China, India, Japan, South Korea and the UK.
"Today, the President is announcing that the Department of Energy will make available releases of 50 million barrels of oil from the Strategic Petroleum Reserve to lower prices for Americans and address the mismatch between demand exiting the pandemic and supply," the White House said in an statement.
