The United States will release 30 million barrels of oil from its strategic reserve as part of an international effort to stabilize the market after Russia’s invasion of Ukraine, President Joe Biden said on Tuesday.
“The United States has worked with 30 other countries to release 60 million barrels of oil from reserves around the world. The United States will lead this effort, releasing 30 million barrels,” Biden announced to Congress in his first State of the Union address, adding that Washington is “ready to do more if needed.”
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