president of the united states, Joe Bidengreen light lit release about 180 million barrels from strategic oil reservesa move unprecedented scale what the president wants make war inflation. Biden will make the announcement from the White House this Thursday, framing it as one of the measures to mitigate the impact of Vladimir Putin’s open war on Ukraine.
In November, before the Russian invasion began, Biden took advantage of strategic reserves and released 50 million barrels. Later in March, he vetoed the US imports of Russian energy while the conflict was open and as part of the sanctions he tried to stop the Kremlin, freeing another 30 million. But now it is expanding the scope and will enter the US market close to one million barrels per day for six monthsIt’s a step the Administration says will act as a “bridge” until the effects of the increase in national oil production begin to be seen.
U.S. strategic oil reserves hold 568 million barrels, and a White House briefing note announced that the proceeds from the sale of what will now be released will be used to replenish those reserves.
this fuel price rose rapidly in the United States, the price of a gallon of gasoline (approximately 3.8 liters) shot up Average $4.24 (3.82 euros). In places like California, the price is closer to six dollars (5.4 euros) per gallon.