The US Continues To Export Record Levels of Oil Reserves Despite Record High Gas Prices

[pipedreams]

"The flow is draining the SPR, which last month fell to the lowest since 1986"

"The historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices led to more than 5 million barrels of oil being exported to Europe and Asia last month, despite record-high gas and diesel prices.

The news of the export to other nations was reported by Reuters a week ago and raised concern over the continued mismanagement of resources by the Biden Administration. 

Oil exports from the U.S to reach an all-time high of 3.3m b/d in the current quarter as refinery disruptions and Strategic Petroleum Reserve releases increase available supplies, Rystad Energy says."

https://www.thegatewaypundit.com/2022/07/us-continues-export-record-levels-oil-reserves-despite-record-high-gas-prices/

https://www.offshore-energy.biz/u-s-gulf-coast-oil-exports-to-hit-all-time-high-levels-this-quarter-rystad-says/

Oil from U.S. reserves head overseas as gasoline prices stay high

https://www.reuters.com/business/energy/oil-us-reserves-head-overseas-gasoline-prices-stay-high-2022-07-05/

 

"About 1 million barrels per day is being released from the Strategic Petroleum Reserve (SPR) through October. The flow is draining the SPR, which last month fell to the lowest since 1986. U.S. crude futures are above $105 per barrel and gasoline and diesel prices above $5 a gallon in one-fifth of the nation. U.S. officials have said oil prices could be higher if the SPR had not been tapped."

 

 

[21 shooter]

The insanity is constantly reaching new levels.