The US announces the largest release of its oil reserves in history due to the Ukraine war

the president of United StatesJoe Biden, will announce this Thursday the release of a million barrels per day of its strategic reserves for six months in an attempt to lower its price, the White House said.

“Following consultations with allies and partners, the president will announce the largest reserve release in history, placing an additional million barrels per day daily over the next six months,” the statement says.

“The magnitude of this release is unprecedented: never in the world have reserves been poured (into the market) at a rate of one million barrels per day for so long. This record release will provide a historic amount to serve as a bridge until the end of the year, when domestic production increases “add note.

Information in development

Source: Elcomercio

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