The US intends to replenish the strategic oil reserve, which is the world's largest reserve of this fuel. Biden announced the release of 180 million barrels of oil from there. within six months
The US administration plans to submit an application for the purchase of 60 million barrels of oil in the fall. crude oil as part of the plan to replenish the strategic petroleum reserve (SPR), according to the website of the US Department of Energy. The agency has unveiled a long-term plan for replenishing oil reserves.
“Bids will be accepted in the fall of 2022 to ensure [oil] supply in future years, when prices are expected to be significantly lower than now,” ; noted in the department.
By means of a buyback, the American authorities intend to replenish the strategic reserves of 180 million barrels put on the market, the Ministry of Energy indicated.
“The US Strategic Petroleum Reserve represents the world's largest emergency [oil] reserve and is a valuable tool for protecting the American economy and consumers from supply disruptions,” Energy Secretary Jennifer Granholm said. The US needs to think strategically when it comes to resupplying, she said, to be ready to provide assistance when needed most.
On the US administration's plans to apply for a purchase 60 million barrels oil previously told a CNN source. According to the channel, Washington will purchase significant volumes of this fuel for the first time since the 2000s. As an official from the ministry explained, payment will be made from the proceeds from the sale of oil released from strategic reserves.
Biden announced the release of 180 million barrels. oil from US stocks at the end of March. The American president indicated that the United States would send an average of 1 million barrels of oil to the market from the strategic reserve. per day for six months.
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Then he called the rise in the price of a gallon of gasoline in the US market “Putin's rise in price”, recognizing that the price jump began even before the events in Ukraine. Biden explained that there is too little supply in the US market to meet demand, due to the refusal of Russian oil.
March 8, when Washington imposed a ban on oil and gas imports from Russia, the retail price of a gallon of gasoline in The USA broke the record and exceeded the mark of $4.17. The Kremlin noted that Russia plans to compensate for falling oil orders with an easterly direction.
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