U.S. Set to Draw Record Amount From Emergency Oil Reserve

The U.S. government is contemplating releasing up to 180 million barrels of oil from its emergency supplies, people familiar with the matter told Reuters, in a desperate bid to lower high fuel prices and curb inflation.

Key Takeaways

  • The U.S. government is contemplating releasing up to 180 million barrels of oil from its emergency supplies over several months in a bid to lower fuel prices and curb inflation.
  • This bold move came a day before IEA member countries are expected to reveal…

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