According to a foreign news agency, US President Joe Biden has ordered the release of 50 million barrels of oil from the US strategic oil reserves.
According to the White House, the United States will release oil in two phases, 32 million barrels in the first phase and 18 million barrels in the second phase.
India has announced the release of 5 million barrels of oil. Britain, China and Japan have also announced the release of oil in their strategic reserves.
