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2 March 18:41

Reuters: The USA is not currently discussing the sale of oil from the Strategic Petroleum Reserves (SPR)

Raluca Ioana Draghici

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The sale of crude oil from the United States Strategic Petroleum Reserve (SPR) is not under discussion at present, according to anonymous sources cited by Reuters. These sources emphasize that oil markets are well supplied, considering that the SPR holds over 415 million barrels of crude oil, making it the largest emergency reserve in the world.

Former President Joe Biden previously ordered a significant sale of 180 million barrels in recent months, in response to Russia's invasion of Ukraine. Additionally, the Biden administration has managed to repurchase only a small portion of the oil sold.

The price of Brent crude oil exceeded 80 dollars on the Intercontinental Exchange Inc (ICE) on the morning of Monday.

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Financial Intelligence

Reuters: SUA nu discută în prezent despre vânzarea petrolului din rezerva strategică

US not currently discussing sale of oil from SPR, source says

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