Like it or not the world runs on oil.
Last month Biden released millions of barrels of oil from the Strategic Reserves for shipment to Asia. China appears to be doing the same after being asked by the U.S. to tap their reserves, along with Japan, South Korea and several other countries. The idea seems to be to lower global oil prices which have jumped dramatically over this past year.
With so many global players it can be a complicated story to unravel, but if you step back and view the larger picture it's not complicated at all. A year ago we had fairly low gas prices and were also energy independent. That is the real story here.