US President Joe Biden announced the supply of 1 million barrels of oil per day to the market from the country’s strategic reserves within six months. According to him, energy companies are ready to increase oil production by the autumn of this year.
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“Today I ordered the release of 1 million barrels per day for six months – this is more than 180 million barrels from strategic reserves,” Biden’s agency quotes.
According to him, the prices for energy carriers in the world and gasoline in the USA are growing because of Putin’s actions. As a result, there is not enough oil supply on the market and supplies from strategic reserves will continue until production increases.
The Office of the President of Ukraine called Biden’s decision good news. As noted head of the OP Andrey Yermaksuch US actions bring closer the oil embargo and sanctions against large Russian banks through which money for energy flows.
“It can survive without Russia – we will see it soon. And if it can, then there will be tougher sanctions,” Yermak added.
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