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You are here: Home / ukraine subreddit / Biden to announce ‘largest release of oil reserves’ in effort to curb gasoline prices

Mar 31 2022

Biden to announce ‘largest release of oil reserves’ in effort to curb gasoline prices

President to release up to 1m barrels of oil a day from the strategic reserve for the next six months

Joe Biden has announced plans to release up to 1m barrels of oil a day from the strategic reserve, in an attempt to contain high gasoline prices and curb inflation exacerbated by the war in Ukraine.

In a statement, the White House said: “After consultation with allies and partners, the president will announce the largest release of oil reserves in history, putting 1m additional barrels on the market per day on average – every day – for the next six months.”

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