U.S. President Joe Biden is ordering the release of one million barrels of oil per day from the nation’s strategic petroleum reserve for six months, in a bid to control skyrocketing energy prices and put further pressure on Russia to halt its invasion of Ukraine.
Biden made the formal announcement of the plan on Thursday morning, calling the size and scope of the oil release “unprecedented.”
“The world has never had a release of oil reserves at this one million per day rate for this length of time,” the White House said in a statement. “This record release will provide a historic amount of supply
