Department of Energy approves release of 13.4 million barrels from Strategic Petroleum Reserve
CNN
In a statement Tuesday, the Department of Energy announced the release of 13.4 million barrels of oil from the strategic petroleum reserve.
The release of the emergency oil reserves, part of an authorization announced by President Joe Biden in November, aims to combat rising gasoline prices in the US and the lack of oil supply around the world.
Biden warned in November that the administration's actions "will not solve the problem of high gas prices overnight."
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