US releasing 50m barrels of oil from reserves

The White House says it is releasing 50 million barrels of oil from its strategic reserves. This is part of a coordinated effort with several nations to curb soaring fuel prices.
The Biden administration has come under increasing pressure to act, with petrol prices more than doubling compared with a year ago.
China, India, South Korea, Japan and the United Kingdom are also releasing oil from their reserves.

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