LIVE: Biden to announce plan to combat high energy prices

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US President Joe Biden is expected to announce a plan to combat a spike in energy prices in Washington on Tuesday, November 23.

50 million barrels are expected to be released from the Strategic Petroleum Reserve by the Department of Energy, in an attempt to lower energy prices during a supply shortage.

In a tweet published on Tuesday, Biden said that the move would be part of a coordinated action with countries including China, India, Japan, Republic of Korea and the United Kingdom.