US President Joe Biden today assured that “more than 30 countries” will follow the example of Washington and draw oil from their strategic reserves, in an effort to reduce the price of black gold.
Referring to the initiative of the International Energy Agency (IEA), Biden said: “This morning, more than 30 countries met in an emergency and decided to put tens of millions of barrels of oil on the market.”
Commenting on the decline in unemployment in the US, the US President stressed that the US economy is “moving” again and that “Americans are returning to work.”
“It’s great news for millions of families who have little room for maneuver (…) and just the dignity of having a job,” he said. He also said that going back to work would help lower prices and was “good news” for fighting inflation.
According to data released earlier today by the Ministry of Labor, unemployment in the US fell to 3.6% in March, by 0.2 percentage points compared to February, ie close to pre-pandemic levels. By February 2020, unemployment had fallen to 3.5%, the lowest level in half a century.
Source: AMPE
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
