The United States and some other countries want to release 60 million barrels of oil to cope with the surge in oil prices

According to foreign media reports, the United States recently announced that the United States and its allies are ready to release 60 million barrels of oil from their reserves to cope with the impact of the Russia-Ukraine conflict on natural gas prices.

Of this , 30 million barrels will come from the U.S. Strategic Petroleum Reserve, and the other half will come from Europe and some Asian countries , including Germany, the United Kingdom, Italy, the Netherlands and other major European countries, as well as Japan and South Korea.

According to foreign media reports, the White House said in a statement: "Biden has made it clear from the beginning that all tools to protect American businesses and consumers are on the table, including preventing oil prices from rising."

U.S. crude prices surged about 10% in recent days to an intraday high of $105.14 a barrel , the highest level since 2014 , while world benchmark Brent crude surged about 8% to $105.40 a barrel.

Oil prices have pushed prices at gas pumps to nearly seven- year highs , with the national average for regular gasoline rising to $3.62 on Tuesday, up about 9 cents a week and 24 cents a month, according to the American Automobile Association.

Higher energy prices will undermine consumer demand and have wider repercussions for the economy .

U.S. officials have been holding calls and meetings with major energy suppliers over the past few weeks to secure commitments to cover any market disruptions, including a visit by two U.S. government officials to Saudi Arabia to discuss the need to address the impact on oil markets , with the U.S. notifying Saudi Arabia before announcing the oil reserve.

"We are actively working with nations around the world to assess the collective release of strategic petroleum reserves from major energy consuming countries. The United States will release additional barrels as conditions allow," he said.

Chevron Chief Executive Mike Wirth on Tuesday expressed support for governments to release emergency oil stocks to offset supply concerns caused by the Russia-Ukraine conflict .

"I do think that a coordinated response from multiple countries could help in the short term," Voss said in response to CNN's questions at a briefing with reporters . "Certainly, we've seen concerns in the market about supply and supply reliability." Voss said he was confident there would be no major disruptions to oil supplies .

“I have seen no indication that the intent of the Russia-Ukraine conflict is to restrict oil supplies, ” Voss said. “In fact, quite the opposite. It seems to me that people have been very careful to indicate that their intent is to try to maintain energy supplies to a world that needs it.”

The United States and some other countries

To release 60 million barrels of oil

In response to the surge in oil prices