China-Singapore Jingwei, November 25. According to Reuters’ Chinese website, the U.S. Department of Energy stated that it has begun auctioning a total of 32 million barrels of crude oil released from the four strategic petroleum reserve (SPR) pools from the end of December to April 2022. Delivery period.
According to reports, the oil reserves sold this time are mainly blended sour crude oil, which is expected to suppress the price of sour Mars crude oil in the United States, benefiting Asian buyers, who mainly process high-sulfur crude oil.
According to the report, the U.S. Department of Energy stated that crude oil delivery will continue from January to April 2022, and early delivery will take place at the end of December. Buyers will have to return the Strategic Petroleum Reserve between 2022 and 2024.
The report also said that the US Department of Energy will announce the sale of up to 18 million barrels of SPR crude oil as early as December 17.
The United States recently requested major oil-consuming countries such as South Korea, India and Japan to release reserves to curb the continued rise in international oil prices.
The White House announced on November 23 local time that the U.S. Department of Energy will release 50 million barrels of crude oil from the Strategic Petroleum Reserve to alleviate the mismatch between oil supply and demand and reduce oil prices when the economy recovers from the new crown epidemic. From the perspective of the distribution arrangement, 18 million barrels of which have been approved by the Congress to be sold directly, and the other 32 million barrels are short-term exchanges. After the oil price stabilizes, it is agreed that the strategic oil reserve will be returned from 2022 to 2024. (Zhongxin Jingwei APP)Return to Sohu to see more
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