BREAKING: Biden administration to tap oil reserves in bid to tamp down rising gas prices

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Nov 23, 2021 BREAKING: Biden administration to tap oil reserves in bid to tamp down rising gas prices The Biden administration is releasing 50 million barrels of oil from the nation's Strategic Petroleum Reserve in an effort to address rising gas prices ahead of the holiday season, the White House announced Tuesday. The decision was made jointly with other major energy consuming countries to curb increasing energy prices after oil-rich nations rejected calls to increase production as the global economy rebounds from the pandemic and fuel demands rise. Read More Follow Us Get the NBC News Mobile App Check out all NBC News newsletters here. 30 Rockefeller Plaza New York, NY 10112 View in browser | Unsubscribe | Contact | Privacy