Tag: Strategic Petroleum Reserve

U.S. Gasoline Prices Continue To Climb

Tina Marie (Ms. Cat)

U.S. Gasoline Prices Continue To Climb

“Macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn’t been slowed much by a surge in new Covid cases. In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter. Moving forward, it doesn’t look good for motorists, with prices likely to continue accelerating,” DeHaan added.

The Era Of Cheap Oil Has Come To An End

Tina Marie (Ms. Cat)

In its latest monthly report, OPEC revealed it had yet again failed to produce as much oil as it agreed to produce the last time it discussed output. And it wasn’t by a few thousand barrels per day, either. The shortfall was some 1.8 million barrels daily, but more importantly, that sort of undershooting of its own target has become a regular thing for the cartel. Meanwhile, the United States federal government needs to buy some oil for its strategic petroleum reserve after releasing close to 200 million barrels from it this year as a way of countering fuel price inflation. Yet U.S. drillers are not in a rush to boost production. On the contrary, it seems production growth has lost its place among these companies’ top priorities.

The Era Of Cheap Oil Has Come To An End

Previously:

U.S. Begins SPR Repurchase Program As Oil Prices Crash

U.S. Accelerates Three-Tier Plan To Reduce Oil Prices

Tina Marie (Ms. Cat)

U.S. President Biden has three key strategies in place to lower oil prices.

– The first and foremost strategy is the implementation of the NOPEC bill.

– The second pillar of the plan is to release more crude from the U.S. SPR.

– The third element of the plan to bring oil prices down is to be a concerted effort to encourage U.S. oil firms, shale or otherwise, to increase their production.

U.S. Accelerates Three-Tier Plan To Reduce Oil Prices

Venezuela’s Oil Output Stutters as ‘Irrational’ US Sanctions ‘Imbalance’ Global Market

Tina Marie (Ms. Cat)1 Comment

Venezuela’s Oil Output Stutters as ‘Irrational’ US Sanctions ‘Imbalance’ Global Market

However, in a recent address to the press, the US president clarified that resuming oil exports from Venezuela was only one of several options. “There’s a lot of alternatives. We haven’t made up our mind yet,” he told reporters after calling the OPEC+ decision a “disappointment.” Washington has demanded that the Maduro government re-engages in talks with the opposition as a precondition for any changes to its sanctions policy.

Related:

US Plans To Ease Venezuela Sanctions To Let Chevron Pump Oil There Again—Reports

The US declared Iran a participant in the war in Ukraine

Tina Marie (Ms. Cat)

Colonel Cassad, Oct 21 2022 10:55

The declaration of Iran as a country that participates in the war in Ukraine, of course, is a reflection of the double standards of the US, because in fact the US accuses Iran of supplying weapons to Russia, and Russia uses them. Moreover, accusations are brought by a country that openly supplies weapons to Ukraine, and these weapons are also used for strikes on the territory of the Russian Federation. We do not even consider the very fact of participation of the US military and intelligence services in the fighting in Ukraine. The Americans declare that they are not a party to the conflict, do not participate and do not want to participate in hostilities on the territory of Ukraine.

The US declared Iran a participant in the war in Ukraine

Biden Is Running U.S. Energy Security Into The Ground

Tina Marie (Ms. Cat)

The White House divulged late on Tuesday its plan to release 15 million barrels of crude oil from the strategic petroleum reserve to be delivered in December, as the last tranche of the emergency 180 million barrel release that the Biden Administration announced in March.

Biden Is Running U.S. Energy Security Into The Ground

Related:

Biden Manipulates Oil Price To Buy More Votes

Since its inauguration the Biden administration has sold more than 220 million barrels from the 650+ reserve. Refilling it at $70/bl, nearly $50 per barrel more than Trump was going to pay, will be quite costly.