"President Joe Biden is preparing on Tuesday to announce the release to the market of oil from the national strategic reserve in coordination with several other countries," - said in a statement quoted by RIA Novosti.
India, Japan and South Korea could take similar actions.
Earlier, Deputy Energy Ministers of Russia and the United States Pavel Sorokin and David Turk exchanged views on further steps aimed at stabilizing the situation on the world oil market and on the climate agenda.