Biden to release oil from reserves to cool prices

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The United States has decided to release the largest amount of oil from emergency reserves in the country’s history.
U-S president Joe Biden says the move will help tackle high energy prices but it won’t happen until a few weeks’ time. The U-S energy department will release 50 million barrels of oil from the country’s Strategic Petroleum Reserve. Some other countries are also set to release their oil reserves in an attempt to combat the global lack of oil supply. The new surge in energy prices comes as American citizens are dealing with a 30-year-high inflation. The white house says the prices have skyrocketed because oil companies were late in responding to the increased demand following covid lockdowns. 

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