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US President orders release of 50 million barrels of oil from strategic reserves

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US President orders release of 50 million barrels of oil from strategic reserves

US President orders release of 50 million barrels of oil from strategic reserves.

According to the White House, US President Joe Biden has ordered the release of 50 million barrels of oil from US strategic reserves.

The White House says the move is part of a concerted effort to reduce rising fuel prices.

The release will be in parallel with other energy-consuming countries, including China, India, Japan, South Korea and the United Kingdom.

China, Japan, India have decided to put pressure on OPEC, to bring down oil prices.

India reduced excise duty on oil prices by Rs 5 per liter on petrol and Rs 10 per liter on diesel.


in details

US President orders release of 50 million barrels of oil from strategic reserves.

According to the White House, US President Joe Biden has ordered the release of 50 million barrels of oil from US strategic reserves.

The White House says the move is part of a concerted effort to reduce rising fuel prices.

The release will be in parallel with other energy-consuming countries, including China, India, Japan, South Korea and the United Kingdom.

China, Japan, India have decided to put pressure on OPEC, to bring down oil prices.

India reduced excise duty on oil prices by Rs 5 per liter on petrol and Rs 10 per liter on diesel.

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