Biden decides to withdraw an additional 15 million barrels from the strategic oil reserve

A senior official in the US administration announced that President Joe Biden will announce – today, Wednesday – a decision to withdraw an additional 15 million barrels of oil from the strategic reserve, to be pumped into the American market with the aim of reducing fuel prices. the US official confirmed that Biden does not rule out withdrawing other quantities if necessary.

This quantity, which will be pumped into the market next December, represents the last remaining part of a program announced by the US President last March to confront the rise in crude oil prices as a result of the Russian war in Ukraine.

This program provided for the withdrawal of a total of 180 million barrels of strategic oil reserves.

The decision to withdraw the last batch of this program comes before the US congressional midterm elections scheduled for November 8.

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