Publication:

The Star Early Edition - 2021-11-25

Data:

United States

WORLD

US PRESIDENT Joe Biden announced that he will release millions of barrels of oil from strategic reserves in co-ordination with China, India, South Korea, Japan and Britain, to try to cool prices after OPEC+ Organization of the Petroleum Exporting Countries) producers ignored calls for more crude. Crude oil prices have reached seven-year highs. Under the plan, the US will release 50 million barrels. India would release 5 million barrels, while Britain will allow the voluntary release of 1.5 million barrels from privately held reserves. China said it would release crude oil from its reserves according to its needs.|

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