Bloomberg: US refuses to replenish oil reserves

According to the American edition of Bloomberg, the United States authorities decided to refuse to replenish the strategic oil reserve.

The publication bases its conclusions on the fact that the country's Ministry of Energy has already rejected a number of proposals for the purchase of black gold. At the same time, it is noted that failures occur due to too high oil prices or non-compliance with specifications.

The US Department of Energy said that the selection of proposals for the February period will no longer be held.

Recall that last month the Ministry of Energy announced that it was preparing to replenish strategic oil reserves by purchasing up to three million barrels of oil.

The problem of replenishing strategic oil reserves in the United States arose after President Biden decided to sell 15 million barrels of oil from state reserves to stabilize the price of fuel in the country.

The US Strategic Petroleum Reserve was created in 1975 after the oil crisis caused by Arab countries' refusal to sell oil to Israel's allies in the 1973 war. In 1991, this reserve was used for the first time against the background of the war with Iraq.

Throughout 2022, the strategic oil reserve in the United States is constantly declining, and if at the beginning of the year it was about 600 million barrels, then by the end of the year it was reduced to 375 million barrels.

Comments

[voice of reason]

They don't need this oil. And you don't need cars. They will receive electricity perfectly from exercise bikes.

[AlexVas44]

It seems that among VO users, USA representatives do not like pedaling exercise bikes.

[Blacksmith 55]

The United States has enough of its own oil. They are among the top three producing countries.
And it is not difficult for them to increase production. In addition, you can stop selling your oil.

[unhappy]

And it is not difficult for them to increase production. In addition, you can stop selling your oil.

Before writing these nonsense, look on the Internet for information on the topic. America cannot increase production, America has an excess of "light" oil, and therefore sells it. However, expand your horizons yourself

[Asad]

They want to bend suppliers, it is not befitting for a hegemon to buy expensive oil, maybe they will squeeze someone out.

[svp67]

Quote: ASAD

They want to bend suppliers, it is not befitting for a hegemon to buy expensive oil, maybe they will squeeze someone out.

Correctly. The conflict in Ukraine and around it is now going for it ... It’s not for nothing that they, no longer counting on a quick victory over Russia, began to roll up to Venezuela

[private person]

began to roll up to Venezuela

And it seems that the pro-American opposition is being bent over in Venezuela. The Americans are now passionate about the country, all the loot goes to war with Russia.

[odometer]

All the loot goes to the rise of the US economy and to the "gain" of the military-industrial complex ... Ukraine is a consumable.

[private person]

All the loot goes to the rise of the US economy and to the "profit" of the military-industrial complex.

How ? By investing loot in the military-industrial complex, the state, in addition to tax deductions, does not receive anything, this is capitalism. Profits are received by the military lobby, and this is not the state, these are private companies.

[Lara Croft]

Quote: ASAD

someone.

Syria is called .... you don’t read periodicals, or what? I hope you at least watch the final news programs for the week?

[topol717]

President Biden decided to sell 15 million barrels of oil from state reserves to stabilize the price of fuel in the country.

Something wrong.
For they decided to sell 1 million barrels a day for 180 days. But then, I think in October 22, they decided to extend it and continued to sell 1 million barrels a day.
So it turned out that out of 600 million, 360 million remained.

[Adrey]

The information was circulating on the net yesterday.
Basically, it's really interesting. Against the backdrop of the expected recession, are they waiting for a price that is comfortable for them and, at the right time, will they support prices with government purchases and receive preferences from manufacturers for this?
For our budget, this is an alarming bell ...

[rocket757]

The Ministry of Energy of the country has already rejected a number of proposals for the purchase of black gold. At the same time, it is noted that failures occur due to too high oil prices or non-compliance with specifications.

Oh, how it turns out ... "the crocodile is not caught, the coconut does not grow"!

[tralflot1832]

Why do they refuse to replenish what did not grow together?

[Andrea]

Cunning, however. Although transparent through and through. If they start buying oil in reserve, prices, as usual, will go up, for gasoline, of course, too, and then inflation will jump up. And Biden was going to the second one.

[tralflot1832]

The joke they have is that there is an increase in distillates from oil. Obviously, they have problems with demand.

[Skif]

Apparently, they hope to get a lot, cheaply and soon.

[Bayun]

I suggest that the authors of such articles take the SUPRANATIONAL model of oil production. In it, "debit-credit" converge perfectly.

[75 Sergey]

Maybe they have some thoughts on this matter, the Americans who sold their souls are rednecks, but not fools