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World

19. 11. 2021. 00:00   >>  16:01 0

THE BIGGEST ECONOMIES

Possible use of oil strategic reserves

Governments from some of the world's biggest economies said on Thursday they were looking into releasing oil from their strategic reserves, following a rare request from the United States for a coordinated move to cool global energy prices and ahead of a meeting of major oil producing countries.

The Biden administration has asked a wide range of countries, including China for the first time, to consider releasing stocks of crude, the White House said on Thursday.

 

Other major consumers India, Japan and South Korea were also involved in discussions, several people familiar with the requests told Reuters on Wednesday.

 

As the world economy rebounds from the pandemic, Washington is frustrated that producers in OPEC+, the Organization of the Petroleum Exporting Countries and allies such as Russia, have rebuffed U.S. requests to speed up additional oil supplies.

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