Alexey Gromov, Principal Director on Energy Studies of the Institute for Energy and Finance, commented on the Internet portal Pravda.Ru on the decision of US President Joe Biden to release of crude oil from its Strategic Petroleum Reserve (SPR).
The expert noted that today the prices of petroleum products in the United States are breaking records of seven years ago. That is reflecting in the rating of the current president administration, the specialist said.
Earlier, Biden made the decision to release fifty million barrels to the market to lower fuel prices. According to the White House, China, India, Japan, South Korea and the United Kingdom have also decided to open up their strategic oil reserves to overcome the energy crisis.
“The decision announced by President Joe Biden is aimed precisely at reducing the degree of social tension in the country associated with the rise in gasoline prices. And first of all, this decision is aimed at increasing the rating of the US President within his country," Gromov explained.
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