The United Kingdom will follow the US and release more oil from its reserves, in a joint effort to reduce prices and dependence on Russia, according to sources in Bloomberg.
An announcement is possible through the IEA, according to one of the sources, who, however, did not provide details on the size of the release of stocks, citing the need for countries to act in a coordinated manner.
US President Biden has said his plans to release 1 million barrels a day for six months will lay the groundwork for the United States to gain energy independence from foreign suppliers.
He also stressed that he expects the allies to release about 50 million barrels from their own reserves.
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Source: Capital
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