The White House said Thursday that US President Joe Biden would announce the “largest release” of oil reserves in history in an effort to bring down gas prices across the country and the globe.
“After consultation with allies and partners, the President will announce the largest release of oil reserves in history, putting one million additional barrels on the market per day on average – every day – for the next six months,” a statement from the White House said.
“The scale of this release is unprecedented: the world has never had a release of oil reserves at this one million per day rate for this length of time. This record release will provide a historic amount of supply to serve as a bridge until the end of the year when domestic production ramps up.”
– Developing
