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Politics

U.S. talks to Japan, China, others on using oil reserves: Reuters

Coordinated release would aim to lower prices and send OPEC message, sources say

Rising gas prices have contributed to inflation in the U.S. and become a political problem for President Joe Biden.   © Reuters

WASHINGTON (Reuters) -- The Biden administration has asked some of the world's largest oil consuming nations - including China, India and Japan - to consider releasing crude stockpiles in a coordinated effort to lower global energy prices, according to several people familiar with the matter.

The unusual request comes as U.S. President Joe Biden fends off political pressure over rising pump prices and other consumer costs driven by a rebound in economic activity from lows plumbed early in the coronavirus pandemic.

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