US to release 30mn oil barrels from strategic reserve: President Biden

MG News | March 02, 2022 at 11:23 AM GMT+05:00

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March 02, 2022: The United States will release 30 million barrels of oil from its Strategic Petroleum Reserve as part of an international effort to stabilize the market after Russia's invasion of Ukraine, President Joe Biden said Tuesday.

"I can announce the United States has worked with 30 other countries to release 60 million barrels of oil from reserves around the world. America will lead that effort, releasing 30 million barrels of oil," Biden told members of Congress in his first State of the Union address, adding that Washington stands "ready to do more, if necessary."

AFP/APP

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