Russia and Ukraine: Biden announces the largest release of oil from the strategic reserve in US history.

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  • BBC News World

Man fills this truck with fuel in Los Angeles.

image source, Getty Images

The White House gave the green light this Thursday to the largest release to the market of strategic oil reserves in the country’s history.

The president of the United States, Joe Biden, announced that he will make available to the market up to 180 million barrels of US crude reserves over a period of six months, a move of an unprecedented scale with which the government seeks to reduce the high cost of fuel and combat the wave of inflation.

The decision, which will try to alleviate the shortage of crude oil caused by the war in Ukraine, is the largest since the reserve was created in 1974.

However, it is unlikely that the release of around 1 million barrels per daycompletely solve the current energy crisis, analysts say.

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