President Obama releases oil reserve - KAIT Jonesboro, AR - Region 8 News, weather, sports

President Obama releases oil reserve

WASHINGTON D.C. (KAIT) - Gas prices have dropped 35 cents over the past few weeks and now President Obama will be releasing part of the strategic oil reserve to try and keep prices down.

The decision will release 30 million barrels from the U.S. Strategic Petroleum Reserve into the global oil markets over the next month.

The White House will assess the situation at the end of the month and could release even more oil from the stockpile.

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