Brexit Britain comes to EU’s rescue as it releases oil reserves to combat Russia crisis

Gas crisis: Expert issues warning over 'significant' price rises

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The international petroleum syndicate is said to not be ready to increase oil production despite pleas from the energy-starved world. As lockdown restrictions eased and industries were spurred to life this year, the increased demand for energy has caused gas and oil prices to skyrocket to record highs. The Government has now joined forces with the US, China, India, Japan and South Korea to drive oil prices down by flooding the markets with some 70 million barrels of oil.

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