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Biden admin update plans on replenishing US oil reserve - but still vague on timing

There are plenty of headlines about that the Biden administration said it plans to begin purchasing oil to replenish the nation’s emergency reserve.The update says it'll be after completing maintenance work later this year.This is not really an update, we knew this already. The 'update' doesn't give any specifics on timing. The admin had previously nominated a price of around US$70 / barrel. ---The background to this is the drawdown in reserves. The Strategic Petroleum Reserve (SPR) is currently... Read More

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Content Topics

Biden

Admin

Update

Plans

Replenishing

Reserve

Still

Vague

Timing

Forex

Posted: May 10 2023, 00:11

Author Name: forexlive

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