The administration of US President Joe Biden is set to release oil from the nation's strategic reserve in a bid to curb rising gasoline prices.

The administration plans to release 15 million barrels in December.

It said this would complete the 180 million barrels announced in spring.

The plan is part of the US response to OPEC Plus' decision to reduce production by 2 million barrels per day. The US government opposes the plan, as it could push up gas prices.

The White House said President Biden will do everything he can to contain gas prices and will consider another large-scale release from the reserve if necessary.

The Biden administration is likely eager to lower prices at the pump with midterm elections just around the corner.

But it remains unclear how much the release will effect prices as OPEC Plus scales down production.