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Global Signal: United States mulls plan to release 1 million bpd oil from reserves over several months

videos | Mar 31, 2022 8:40 AM IST

Global Signal: United States mulls plan to release 1 million bpd oil from reserves over several months

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Oil prices have corrected and on Wednesday Brent oil closed at about $113. There is a little bit of moderation seen in oil prices and the reason is that there are news reports which suggest that the Biden Administration is considering a release of a million barrels of oil per day for the next several months.

Oil prices have corrected and on Wednesday Brent oil closed at about $113. There is a little bit of moderation seen in oil prices and the reason is that there are news reports which suggest that the Biden Administration is considering a release of a million barrels of oil per day for the next several months.

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This may be done in coordination with the International Energy Association (IEA), which is pressing down on countries around the world to release oil from their respective reserves. But there is no final decision yet on that.
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