US President Joe Biden: US is to sell 15 mln bbls of crude oil from the SPR
19.10.2022, 17:44

US President Joe Biden: US is to sell 15 mln bbls of crude oil from the SPR

US President Joe Biden said the US will sell 15 million barrels of crude oil from the SPR from the nation's Strategic Petroleum Reserve (SPR) by the year's end and detailed a strategy to refill the stockpile when prices drop, Reuters reported.

''Biden's plan is intended to add enough supply to prevent oil price spikes that could hurt consumers and businesses, in the wake of a decision by OPEC+ oil-producing nations, let by Saudi Arabia, to cut oil production ahead of U.S. midterm elections. Biden and his Democrats could lose control of one or both houses of Congress in November voting.''

Key notes

  • Could also make extra oil available for sale if needed.
  • To refill SPR when us oil prices are at or below $72/bbl’.
  • Biden urges oil companies to increase US production and investment and offer consumers appropriate prices.
  • Biden US needs to pass permitting reform bill.
  • Biden says timing of SPR release is not politically motivated.

WTI Update

The price of oil moved higher early on Wednesday ahead of an expected release of additional US strategic supplies to counter OPEC+ cuts as supply remains tight and US oil inventories fell last week.

Spot West Texas Intermediate crude is up 2.90% at the time of writing and close to the highs of the day at $86.19bbls.

© 2000-2025. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik