President Joe Biden plans to release 15 million barrels of oil or more from the U.S. strategic reserves in an effort to stop gasoline prices from rising now that OPEC and its allies plan to cut production.
The administration hopes that tapping the Strategic Petroleum Reserve, a move that comes just weeks before the midterm elections, will bring relief to voters who have been struggling from high gasoline prices.
Global oil prices were rising even before Russia invaded Ukraine in February. When Biden announced a ban on Russian oil imports in early March, he acknowledged it would come at a
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