US strategic oil reserve hits 40-year low
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The strategic oil reserve in the United States fell by 1.6 million barrels over the week: as of April 14, it stands at 368 million barrels. The reserve fell to a minimum recorded on October 28, 1983 (366.1 million barrels of oil). This is evidenced data Energy Information Administration of the US Department of Energy.
According to the ministry, in mid-spring 2022, the United States was provided with raw materials by 76.5% of the maximum possible level (727 million barrels). By the current moment, the occupancy of storage facilities has fallen to 50.6%.
In 2022, US President Joe Biden announced the release of a total of 180 million barrels of oil from the strategic reserve. The White House was forced to take this step in order to stabilize gasoline prices.
As reported by Bloomberg, the US plans to sell 26 million barrels of oil from the strategic reserve for delivery between April and June of this year. According to agency sources, after that the volume of the US oil reserve will decrease from 371.5 million to 345 million barrels. The total oil storage capacity is 714 million barrels.
On the situation in the oil market – in the material “Kommersant FM” “Oil maneuvers”.
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