To prevent price increases.. Biden announces withdrawal of quantities from the strategic oil reserve
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Published: 19 October 2022
In a call to US companies to increase production, US President Joe Biden announced the withdrawal of 15 million barrels of oil from us reserves in December
The US president announced in detail a strategy to refill stocks when prices fall
Biden's plan aims to add enough supplies to prevent oil prices from rising
The president said from the White House that the United States should "logically increase American oil production," after confirming that the United States will continue to use its strategic reserve to ensure the stability of crude prices
He added: "the actions I am taking are not politically motivated, I am fulfilling the promises I have made and we are working on the transition to renewable energy."