The Problem With Refilling The Strategic Petroleum Reserve

November 6, 2023
Posted by: AliensFaith
Category: OBJECTIVE PRESS

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Last year, the Biden administration conducted the largest ever sale from the Strategic Petroleum Reserve (SPR) to the tune of 180 million barrels, in a bid to stabilize soaring oil prices in the aftermath of Russia’s invasion of Ukraine. The administration set a target to start refilling the reserve once oil prices dropped to $70 per barrel but later the department announced that it hopes to sign purchase contracts for the oil at $79 a barrel. But with WTI trading in the low to mid-80s with prospects for another oil price rally…

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

The Problem With Refilling The Strategic Petroleum Reserve

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