U.S. To Release 50 Million Barrels Of Oil To Ease Energy Costs

U.S. To Release 50 Million Barrels Of Oil To Ease Energy Costs

Assessment

Interactive Video

Business, Journalism, Social Studies

9th - 12th Grade

Hard

Created by

Quizizz Content

FREE Resource

The video discusses the US government's plan to release 50 million barrels of oil from the Strategic Petroleum Reserve to address high gas prices. This release is part of a coordinated effort with countries like China, India, and the UK to reduce global gas prices. The plan includes an exchange of 32 million barrels and an accelerated sale of 18 million barrels. The announcement aims to counteract the high demand for fuel as the pandemic recedes. The impact on gas prices is expected by mid to late December, though exact price changes are uncertain. The US has communicated with OPEC countries about the supply issue, but no additional releases from them have occurred.

Read more

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the total amount of oil being released from the Strategic Petroleum Reserve?

100 million barrels

75 million barrels

20 million barrels

50 million barrels

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which countries are involved in the coordinated effort to release oil reserves?

Germany, France, Italy, Spain

China, India, Japan, Republic of Korea, United Kingdom

Canada, Mexico, Australia, New Zealand

Brazil, Russia, India, China

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the initial hope of the US regarding OPEC countries?

To release more barrels of oil

To increase oil prices

To decrease oil production

To stop oil exports

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

By how much have gas prices dropped in recent days according to the announcement?

5%

10%

20%

15%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When are the barrels from the strategic petroleum reserve expected to start impacting the market?

January next year

Mid to late December

Immediately

Early November