The oil market has already priced in the concerted release of crude oil from national reserves The U.S. is expected to release between 20 and 30 million barrels The oil market has already priced in the concerted release of crude oil from national reserves, Goldman Sachs has said, adding that the U.S. was expected to release between 20 and 30 million barrels, with the rest of the group likely releasing a combined 30 million barrels. The United States talked to China, India, Japan, and South Korea about a joint release from strategic reserves in a bid to rein in crude prices and send a strong-worded message to OPEC. However, India and Japan have refused to release any crude from their strategic reserves. South Korea, according to a Reuters report , is also reluctant to tap its strategic reserve. “Japan and South Korea have shown resistance to releasing reserves, so […]