US announces sale of additional 20 million barrels of oil from strategic reserve

Today, Tuesday, the White House announced that the Joe Biden administration will sell an additional 20 million barrels of oil from the strategic reserve as part of the previous plan to sell 180 million barrels.

The Biden administration said it would sell an additional 20 million barrels of oil from its strategic reserve as part of a previously announced announcement aimed at stabilizing oil prices.

In late March, the administration said it would release one million barrels of oil a day for six months from the Strategic Petroleum Reserve, located in caves on the coasts of Louisiana and Texas.

Source: agencies