The US Department of Energy reported that oil stocks in the country increased by 5 million barrels in a week to 467.6 million barrels. says Online Department of Energy Information Administration.
It is noteworthy that the growth was achieved at the level of 1.1%.
Former US Department of Energy Director Jennifer Granholm statedHe said the US administration could begin the process of replenishing the country’s strategic oil reserves as early as June. 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 is at this point that the US will turn the key and try to buy oil to replenish reserves”. At the same time, in March, the minister was skeptical of the idea to start replenishing reserves this year.
Prior to that, the U.S. Department of Energy lowered the forecast In 2023, the cost of Brent crude oil increased by about 7.5% from $85 to $78.65 per barrel. Such data is specified in the Energy Information Administration report of the American department.