Joe Biden has allowed FIVE MILLION barrels of oil from US national supply to be shipped abroad after claiming they'd be released to help lower soaring gas prices

Joe Biden has allowed FIVE MILLION barrels of oil from US national supply to be shipped abroad after claiming they'd be released to help lower soaring gas prices

• Joe Biden on April 21 announced the largest-ever release of oil from the Strategic Petroleum Reserves, in a bid to reduce soaring energy costs
• The move has put one million additional barrels on the market per day on average, every day, and will continue for six months, until October
• Yet in June more than five million barrels were exported to Europe and Asia, despite the record price highs in the United States
• Phillips 66 shipped about 470,000 barrels of sour crude from Texas to Trieste, Italy
• Atlantic Trading & Marketing (ATMI), an arm of French oil major TotalEnergies, sent 1.12 million barrels 
• Cargos of oil were also sent to the Netherlands, India and China and more will leave Louisiana in July 

By REUTERS

PUBLISHED: 06:04 EDT, 5 July 2022 | UPDATED: 23:03 EDT, 5 July 2022