The Biden administration in the United States has announced that it will release 15 million barrels of oil reserves to keep gasoline prices down.
While OPEC+, which is made up of major oil-producing countries, has decided to significantly reduce crude oil production, it is said that it will consider further large-scale releases if necessary.
The Biden administration in the United States announced on the 18th that it will release 15 million barrels of oil reserves this December.
This is said to be the last implementation of the 180 million barrel oil reserve release quota announced by the US government this spring, the largest ever.
Regarding this, the White House said, ``President Biden will do whatever he can to deal with soaring gasoline prices,'' and will consider further large-scale releases if necessary to keep gasoline prices down.
"OPEC Plus", which is made up of major oil-producing countries such as Saudi Arabia and Russia, decided this month to cut crude oil production by 2 million barrels a day, and the US government has resented that it could lead to soaring gasoline prices. .
The Biden administration seems to have the aim of putting a brake on high prices ahead of next month's midterm elections, but in response to the significant reduction in crude oil production, how much will the release of oil reserves help curb gasoline prices? , the effect is opaque.