Jennifer Granholm, head of the US Department of Energy, said the US administration could begin the process of replenishing the country’s strategic oil reserves in early June. It has been reported TASS.
According to him, the agency could start buying oil to replenish the reserve in June after the completion of the 26 million-barrel sale previously approved by lawmakers. According to Granholm, “it just happened [США] change the key and it will try to buy “oil” to replenish stocks. At the same time, in March, the minister was skeptical of the idea to start replenishing reserves this year.
Formerly US Department of Energy reduced In 2023, the cost of Brent crude oil increased by approximately 7.5% from $85 to $78.65 per barrel. Such data is specified in the Energy Information Administration report of the American department.
The US Department of Energy also lowered its 2024 Brent oil price forecast by 8.3%, from $81 to $74.47 per barrel.