On July 26, the White House said that in order to increase oil supply and lower oil prices, the United States released another 20 million barrels of oil from its strategic oil reserves, releasing 1 million barrels to the market every day.

2025/07/0914:22:36 hotcomm 1859

In order to "please" voters, Biden urgently hopes to lower oil prices. Recently, he took action again.

On July 26, the White House said that in order to increase oil supply and lower oil prices, the United States released another 20 million barrels of oil from the Strategic Oil Reserve (SPR), releasing 1 million barrels to the market every day. This is equivalent to the daily output of Libya .

Some experts commented: This strategy is the worst strategy that Biden took after forcing Russia's oil price limit and visited Middle East to fail.

At present, the domestic oil production in the United States has not increased substantially. SPR will be supplemented in 2023, which means that the United States must purchase 2 600 million barrels of crude oil. This will be the largest oil purchase order in U.S. history and it can be very expensive.

According to media reports, affected by this news, oil prices began to turn from rising to falling, erasing the previous increase of about 2% .

According to media reports, although the United States is the world's largest oil producer, it is also the world's largest oil consumer. There are more than 200 million cars out of the 300 million people, which is a real "country in the car". Therefore, American consumers are very sensitive to the price of gasoline.

The United States said it may supplement its strategic oil reserves after fiscal year 2023. This also means that even if the conflict between Russia and Ukraine ends and oil prices tend to ease, the United States will acquire oil from the world. This 20 million barrels can not be handled in a year or two. The United States' current release of strategic oil reserves may also be laying a mine for the future "high oil prices".

In this "oil price increase" storm, the worst thing is actually EU countries. Due to sanctions on Russia, European countries have to buy expensive and far-reaching American oil. Therefore, the US conspiracy succeeded and Europe became the largest buyer of US oil. High oil prices are harvesting every European citizen.

text | Wu Kaibin Title | Huang Zixin Review | Li Zepum

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