U.K. Agrees to Join U.S. in Strategic Oil Reserves Release
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The U.K. will join the U.S. in releasing more oil from its reserves as part of a joint effort to lower prices and reduce reliance on Russian supplies, two people familiar with the matter said.
An announcement is likely on Friday via the International Energy Agency, according to one of the people, who declined to say the size of the release, citing market sensitivity and the need for countries to act in concert. Both people requested anonymity because the announcement hasn’t yet been made.