WSJ: The United States can use its strategic oil reserve

The United States is exploring the possibility of using their strategic oil reserve in case the projected increase in global oil production would not result in a significant decline in the price of oil. black gold. The Wall Street Journal reported this Friday

According to her, the administration of President Donald Trump, while urging other countries to increase the volumes of their oil, is also considering the possibility of starting to sell these raw materials from its strategic reserves

. The use of oil reserves is also seen by a number of Western allies in the United States, the newspaper writes.

This possibility is being investigated as part of a broader discussion on how to prevent other serious disruptions in supply and the guarantor. Rowan, that the proposal on the oil market fully meet demand, according to the publication. As he points out, some Trump advisers are categorically against the use of the strategic reserve. At this stage, the US administration should only go as a last resort, the newspaper adds.

The US strategic oil reserve was created by the US Congress decision in 1975 after the global energy crisis in case of new emergency situations. At present, in four reservoirs in salt layers in the states of Texas and Louisiana, according to the newspaper, about 660 million barrels of oil are contained. The total storage capacity is 727 million barrels. The US oil reserve is the largest property of the government.

Trump has already stated in his Twitter that the OPEC, in his view, is actually not enough to reduce gasoline prices. He believes that the countries of the organization should increase oil production by 2 million barrels a day, which will drive down oil and gasoline prices.

The OPEC countries agreed in late June to increase oil production by 1 million barrels a day. One of the initiators of the takeover of OPEC + was Saudi Arabia. According to the Minister of Energy, Industry and Mineral Resources of the Kingdom of Khaleda al-Faleh the fall in oil production in Venezuela and the decline of Iranian exports in case of sanctions against him will lead to a market deficit in the second half of the year. He estimated the supply shortfall of 1.6-1.8 million barrels a day, though OPEC + continues to limit production.

With Saudi Arabia, Russia is ready to increase its production. In July, it could increase by 200,000 barrels a day, said earlier the head of the Ministry of Energy of the Russian Federation Alexander Novak.