Media: US will release additional oil reserves from strategic reserves

WASHINGTON, Sep 8 – PRIME The US is exploring ways to release additional oil from strategic reserves to bring down rising fuel prices, Bloomberg said, citing sources.

“The administration of US President Joe Biden is exploring ways to reduce the rise in oil prices later this year, including the possibility of freeing up additional volumes from the country’s strategic reserves,” the statement said.

According to the interlocutors of the agency, in December, oil prices may go up after Europe’s refusal of Russian energy carriers, which will cause an additional increase in demand on the world market and an increase in prices.

In the event that a decision is made to use strategic reserves, this can be done in November, December and January.

In March, Biden announced the release of 180 million barrels of oil from the country’s strategic reserves within six months to lower fuel prices. Supporting Washington’s decision, partners in the IEA agreed to allocate another 60 million barrels. In June of this year, the volume of strategic oil reserves in the United States fell to a record low of 538 million barrels.