Watch CBS News

Biden to release one-third of U.S. oil reserves

President Biden announced he will release 1 million barrels of oil from the Strategic Petroleum Reserve every day through October to combat rising gas prices and inflation. Analysts say this will result in a moderate drop in prices ahead of increased summer demand. CBS News transportation correspondent Errol Barnett reports from Maryland.
Apr 1, 2022 (03:25)
Videos
View CBS News In
CBS News App Open
Chrome Safari Continue