Biden implores US oil companies to pass on record profits to consumers

President announces release of 15m barrels of oil from strategic reserve as he fights to keep gas prices in check before midterms

Joe Biden has called on oil companies to pass on their massive profits to consumers as he announced the release of 15m barrels of oil from the US strategic petroleum reserve.

Biden is fighting to keep gas prices in check ahead of November's midterms. He blamed Vladimir Putin's invasion of Ukraine for the global spike in oil prices and said his administration was doing all it could to keep prices in check.