By Trevor Hunnicutt, Jarrett Renshaw and Timothy Gardner WASHINGTON (Reuters) -The Biden administration has asked some of the world’s largest oil consuming nations to consider releasing some of their crude reserves in a coordinated effort to lower prices and stimulate the economic recovery, according to several people familiar with the matter. Global oil prices touched seven-year highs in late October as oil demand has rebounded nearly to pre-pandemic levels, faster than the pace of supply. The Organization of the Petroleum Exporting Countries and allied producers, led by Saudi Arabia and Russ…

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