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US ready to reopen oil reserves if prices rise again

World News

2024-06-16 | 23:38

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US ready to reopen oil reserves if prices rise again

The Financial Times reported on Monday that US President Joe Biden's administration is prepared to withdraw more oil from the Strategic Petroleum Reserve to prevent any significant rise in gasoline prices this summer.

Amos Hochstein, a senior advisor to Biden, told the newspaper that oil prices "are still too high for many Americans" and that he would like to see prices "come down a bit."

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