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 delivers remarks on energy.
US President Joe Biden delivers remarks on energy as Secretary of Energy Jennifer Granholm listens during an event in the Roosevelt Room of the White House on Oct. 19, 2022, in Washington, DC. Biden announced the release of 15 million barrels of oil from the US strategic reserve. - Alex Wong/Getty Images
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Adam Lucente
@Adam_Lucente

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."

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