A third of the strategic oil reserves of the United States will soon be put on the market to stabilize prices. For six months, the United States will sell 1 million barrels per day. The planet consumes between 90 and 100 million barrels per day and the sanctions against Russia retreated about 3 million barrels per day.

A third of the strategic oil reserves of the United States will soon be put on the market to stabilize prices. For six months, the United States will sell 1 million barrels per day. The planet consumes between 90 and 100 million barrels per day and the sanctions against Russia retreated around 3 million barrels per day. The gesture of US President Joe Biden is therefore important, without being decisive. The measure primarily pursued a domestic policy objective. Americans are very sensitive to the price of gasoline, and this operation should lower the bill at the pump between 10 and 35 cents per gallon. A gallon of gasoline trades around $4.6, or just over $1.2 per litre. It is also a question of encouraging the local oil industry, which has 9,000 exploitation licenses still unused for shale oil. The US government should replenish its reserves in a few months and provide US producers with a contribution for their future production. It is also, by the way, an operation that will bring money to the US Treasury since it will sell its oil at around 100 dollars a barrel. Then, specifies the White House, it will replenish its reserves when “the price has come down”. Some have estimated that the United States will repurchase oil at around $80 a barrel. The US Treasury could therefore pocket 3.6 billion dollars on the operation…