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US Energy Secretary, Weighing Sale of US Strategic Petroleum Reserve, Will Coordinate with Other Countries
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In wake of the upsurge in oil prices during the Iran war, the US is weighing coordinating the release of the US Strategic Petroleum Reserve along with reserves from other countries, US Energy Secretary Chris Wright stated. At this juncture, the US Strategic Petroleum Reserve holds approximately 415 million barrels, which surpasses the global consumption for four days. Besides allowing more Russian oil carried by tankers in Asian waters to be sold, the US has other options, such as the White House's issuance of a 30-day waiver last weekend, allowing Russian crude currently stranded at sea to continue sales to India. AASTOCKS Financial News Website: www.aastocks.com |
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