Reuters: Oil from U.S. reserves sent overseas as gasoline prices stay high
HOUSTON (Reuters) -More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.
The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden to lower record pump prices.
Biden on Saturday renewed a call for gasoline suppliers to cut their prices, drawing criticism from Amazon founder Jeff Bezos.
Read more ....
Update #1: Over 5 million barrels of US reserve oil were exported to Asia and Europe last month as domestic refineries run at full capacity, report says (Business Insider)
Update #2: Biden under fire for letting 5 million barrels of oil go overseas as US prices hit record highs (The Independent)
WNU Editor: The US Strategic Petroleum Reserve was established as a reserve to only be used in the event of a national emergency. It was never set up to be used to export oil overseas .... including to China!!!!
No comments:
Post a Comment