The newspaper writes that the USA cannot take control of the oil market due to the conflict in Ukraine. Al-Eqtisadiya.
According to the publication, the US continues to sell oil from its strategic reserve, which keeps prices on the world market, but at the same time its own reserves have fallen sharply.
Earlier it was reported that the US authorities were planning. to sell another 26 million barrels of oil from the country’s own strategic reserves to balance stock prices for fuel. This measure is scheduled to be implemented from April to June of this year, Bloomberg reports, citing sources.
After the implementation of this measure, the total volume of strategic oil reserves of the USA is expected to increase from 371.5 million to 345 million barrels, while the total storage capacity is expected to be 714 million barrels.
The note also states that stock traders have already reacted to US authorities’ plans to send additional volumes of oil to the market and have slightly lowered market quotations for various classes of raw materials.