Biden announces release of oil reserves following Saudi-backed oil cut
One analyst said the move will not elicit a reaction from Saudi Arabia, which is in a dispute with the Biden administration over the recent OPEC+ oil production decision.
US President Joe Biden said today that the United States will sell 15 million barrels of oil from its reserves.
"After seeing gas prices rise over the past few weeks, they're falling again. That’s progress," said Biden on Twitter. "But they’re not falling fast enough and families are hurting."
