US Oil Reserves: Four ScenariosChris Geerlings
Later today expect data on EIA, as analysts predict oil reserves to increase by 4.75 million barrels, which will lead to a new historical record overseas. The ICE dollar index is still trading near 12-year high against the prospects for an early rise in interest rates by the Federal Reserve...
He said 15 million barrels of oil will be offered from the Strategic Petroleum Reserve (SPR) - part of a record 180 million-barrel release that began in May, and added the United States is ready to tap reserves again early next year to rein in prices. “We’re calling i...
US Does Not Approve of Releasing Oil Reserves to Reduce Crude PricesEducation
To put that in perspective, crude oil was trading at around $85 per barrel on Oct. 19, 2022. So the question remains, how long would the SPR last in the United States in the case of a full drawdown? Though the Strategic Petroleum Reserve has proven to be a reliable safeguard against ...
Following news that the Federal Reserve is still planning to cut interest rates this year, the price of crude oil rose because it boosted risk appetite and put pressure on the US dollar. After experiencing its biggest decline in nearly a month on Wednesday, oil rose to around $87 per ...
Strong oil and natural gas prices in 2018 drove the increase in oil and natural gas proved reserves in the US to these record levels. “The US increased its proved reserves of oil and natural gas, establishing new records in 2018 according to a recently released EIA...
OPEC and its allies including Russia decided on Thursday to stick with a schedule of gradual production increases as the U.S. weighs an unprecedented release from its national strategic petroleum reserves in an attempt to bring down gasoline prices.
Customs and Border Protection will enforce a rebuttable presumption that goods produced by these 29 entities are made with forced labor and, therefore, prohibited from entering the United States unless proven otherwise. The 29 newly added companies include: Tianjin Tianwei Food Co., Ltd.: ...
The answer matters to motorists and to President Joe Biden, who has taken credit for driving prices lower by releasing millions of barrels of oil from the nation’s reserves. The 14-week decline in prices was the longest streak since 2015. Gasoline prices mostly reflect trends in global o...