President Joe Biden will release more oil from the nation's emergency reserves, as inflation has remained stubbornly high ahead of midterms.
by 2 million barrels per day to boost prices.
Reducing the reserves too much runs the risk of not having enough in a crisis, such as an oil embargo, cyberattack, war in the Middle East, hurricane or other natural disaster. The reserve was established by Congress in 1975 after the oil crisis in 1973 when oil-exporting nations throttled their production and caused energy prices to soar.
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