Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
IOF storm Al-Ahli Hospital, vicinity of Al-Mizan Hospital, and Mohammed Ali Al-Muhtaseb Hospital in al-Khalil.
Iraqi sources told Al Mayadeen that reports that Barrack conveyed warnings to Iraq about an Israeli strike if any Iraqi party supports Hezbollah are false.
Pope Leo XIV: Peacemakers do not flee, but dare to stay even if it costs them some sacrifice.
The Pope to the Lebanese: You are a diverse country and a community made up of communities united by one language, the language of hope, which has allowed you to start anew.
Pope Leo XIV to the Lebanese: You are a people who do not give up, but a people who persevere in the face of difficulties and know how to be reborn.
Al Mayadeen's correspondent in South Lebanon: Israeli occupation targets bulldozer working to remove rubble of destroyed home in Shebaa.
IRGC sources tell Al Mayadeen that reports of Iranian missile strikes on northern Iraq are false, calling them rumors spread by enemy-linked media.
Trump: Venezuela airspace should be considered 'closed in its entirety'
AFP: Ukraine behind attack on Russian 'shadow fleet' tankers in Black Sea
Sheikh Qassem: We, our allies, the honorable in our nation, our people, and our army will never accept being subservient to the US or 'Israel'

Biden: 30 countries joining US release of oil reserves

  • By Al Mayadeen Net
  • Source: Agencies
  • 1 Apr 2022 20:24
3 Min Read

The largest release of strategic oil stockpiles in history has been joined by 30 countries.

  • x
  • Biden's economy claims fact-checked
    Biden's oil reserves get some release.

On Friday, US President Joe Biden said that more than 30 countries have joined Washington in tapping the national oil reserves in an attempt at calming down global oil markets which have seen an increase in prices after the war broke out in Ukraine. 

"This morning, over 30 countries from across the world convened in an extraordinary meeting and agreed to the release of tens of millions of additional barrels of oil onto the market," Biden said in an address from the White House.

Read more: US consumer prices witness biggest jump in 40 years

 

On Thursday, Biden announced a record release from the US strategic oil stockpile, which will see a release of a million barrels a day for 6 months. This is by far the largest release of strategic stockpile in history, aimed at calming down inflation that has affected the US and European economies alike.

Washington recorded its worst inflation in 40 years in January, marking a 7% high - those numbers have only exacerbated with the inflation in the US when the war in Ukraine began. 

Biden accuses the "Russian invasion of Ukraine" is what triggered inflation in the US, in addition to increasing oil prices in world markets.

Oil prices calmed a little on Friday, reaching just under $100 a barrel. 

Biden gaslights causes behind soaring gas prices

Though the gas price hike has been going up since the start of the pandemic, Russian President Vladimir Putin seems to be the perfect scapegoat for all energy dilemmas in the US today.

In March 2020, Biden, who was a candidate at the time, said "No more subsidies for the fossil fuel industry! No more drilling on federal lands! No more drilling, including offshore! No ability for the oil industry to continue to drill, period. [It] ends. Number one!"  when he declared war on US energy independence.

Earlier this month, Biden suddenly changed his rhetoric: "Loosening environmental regulations won’t lower prices. But transforming our economy to run on electric vehicles, powered by clean energy, will mean that no one will have to worry about gas prices. It will mean tyrants like Putin won’t be able to use fossil fuels as a weapon."

According to a report by The Hill, this might have been the most "disconnected, tone-deaf" message coming from the White House recently. 

Gas prices have been increasing in the US, reaching their most expensive point in history: $4.17 per gallon, or more. Just before Biden took office, the price was at $2.38 per gallon.

Biden and his Vice President Kamala Harris, along with their pundits on American television, are telling US citizens to 'go green' and buy an electric vehicle, putting a band-aid on the core problem. 

On March 7, in the crosshairs of US and European sanctions on Russia and Russian companies, Harris dealt with the rising inflation and gas prices by bringing up "addressing the climate crisis." 

  • Russia
  • US inflation
  • Oil prices
  • Joe Biden
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

13 elite Israeli troops were wounded in a confrontations in Beit Jinn, Syria.

13 elite Israeli troops wounded in confrontations in southern Syria

  • West Asia
  • 28 Nov 2025
Russia and China are not part of the Resistance Front, but they are playing an important role in building structures to bypass US power and thus facilitate a multipolar and freer world. (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

The Resistance Front and BRICS

  • Opinion
  • 29 Nov 2025
Four killed, ten wounded in targeted California shooting in Stockton

Four killed, 10 wounded in 'targeted' California shooting

  • US & Canada
  • 30 Nov 2025
Point-blank killings: 'Israel' executes 2 Palestinian youths in Jenin

Graphic footage: IOF execute 2 Palestinians from point blank in Jenin

  • Politics
  • 27 Nov 2025

Coverage

All
In Five

Read Next

All
US Ambassador to Turkey Tom Barrack speaks during the Concordia Annual Summit in New York, Wednesday, September 24, 2025 (AP)
Politics

Iraqi sources deny US warning of Israeli attack on Lebanon: Exclusive

People walk through a street in the old city of Homs, Syria, Friday, November 21, 2025 (AP)
Politics

US cautions Israeli occupation against escalation in Syria

Members of the International Committee of the Red Cross (ICRC) arrive at the site where Hamas militants are searching for the remains of captives in Jabalia, northern Gaza Strip, Monday, December 1, 2025 (AP)
Politics

Gaza death toll surpasses 70,000 as victims remain under rubble

Pope Leo XIV meets the Greek Orthodox Patriarch of Antioch John X Yazigi, left, and spiritual leader of Lebanon's Druze community Sheikh Sami Abi al-Mona in the Martyrs' Square, in Beirut, Monday, December 1, 2025 (AP)
Politics

Pope Leo XIV calls for unity, coexistence during Lebanon visit

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS