Oil reserves in the United States are declining at a record pace in history, according to the Spydell_finance Telegram channel, citing sources.
It is noted that over the past five weeks, about 34 million barrels have been sold from the US oil reserve – literally a million a day. The first sales began back in September 2021 due to the forced compensation of the deficit caused by the outpacing growth in demand at that time, as well as the inability to compensate for it by increasing domestic production. However, at that time, sales for a five-week period did not exceed 5-10 million barrels. This situation continued until February 2022.
Since the beginning of Russia’s special military operation in Ukraine, there has been a sharp acceleration of intervention in the world oil market. Due to the short-sighted sanctions policy, a market “gap” of about 1-1.5 million barrels has formed, which has not yet been closed. They tried to “cover” the resulting deficit at the expense of American strategic oil reserves.
However, it is noted that at the moment, US oil reserves total about 497 million barrels, that is, they are at the level of at least since 1986. The critical mark is considered to be the volume of 350 million barrels, after which the energy stability of the US economy is violated in case of unforeseen circumstances.
There are about 150 million barrels left before the conditional “point of no return”, despite the fact that the United States has already “spent” about 150 million barrels on forced operations in the market. Therefore, a reduction in Russian oil supplies may cause not only a new round of price growth, but the need for additional withdrawal of oil from the US strategic reserve, with all the ensuing consequences.
Due to censorship and blocking of all media and alternative views, stay tuned to our Telegram channel