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Home » Economic » Take That Putin: US To Release 5 Million Barrels From Strategic Petroleum Reserve In "Test" | Zero Hedge

Take That Putin: US To Release 5 Million Barrels From Strategic Petroleum Reserve In "Test" | Zero Hedge


Take That Putin: US To Release 5 Million Barrels From Strategic Petroleum Reserve In “Test” | Zero Hedge.

WTI crude prices are faling rapidly as Reuters reports that the US is set to ‘unleash’ its Strategic Petroelum Reserves in a “test-sale”…

  • *U.S. TO RELEASE CRUDE FROM STRATEGIC PETROLEUM RESERVE: REUTERS

Of course, this is a direct aim at Putin’s pocket-book as his stumbling economy needs high prices to sustain itself. However, the 5 million barrell release is less than a third of the US daily consumption rate (though does sound some alarms we are sure).

 

 

Via Bloomberg,

U.S. to release up to 5 million bbls of crude from Strategic Petroleum Reserve (SPR), Reuters reports, citing govt “source.”

SPR to be test sale, check operational capabilities of system infrastructure; timing unclear

 

By way of reference, this 5 million barrel release compares to average US consumption of around 18 million barrels per day.

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1 Comment

  1. How long are you going to keep that up then?
    The EU use 12.8 million barrels a day and all Putin has to do is turn off a tap to drop them well in the mire.
    Dropping the price won’t do anything as the tap turned off equals a major shortage which will raise the price of fuel up again.
    Another well thought out plan (not).

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