Biden: We will release 30 million barrels of oil from our strategic reserves and more "if necessary"
US President Joe Biden announced in his first State of the Union address to Congress, Tuesday night, that the United States will put on the market 30 million barrels of oil from its strategic reserves in order to allay fears arising from the Russian invasion of Ukraine.
Biden said that "the United States worked with 30 other countries to pump 60 million barrels of oil from reserves around the world. America will lead this effort by putting 30 million barrels of oil" on the markets, stressing that his administration is "ready to do more if necessary."
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