Home > Misc > USA Cancels Strategic Crude Oil Sale

USA Cancels Strategic Crude Oil Sale

Tuesday 10 March 2020

WASHINGTON (TASS) — The US Department of Energy made a decision to cancel the planned sale of crude oil from the strategic reserve, Department’s spokeswoman Jess Szymanski said on Tuesday.

Jess Szymanski said:

In light of the recent fluctuations in global oil markets, the U.S. Department of Energy is suspending the recently announced sale of crude oil from the Strategic Petroleum Reserve (SPR). The sale was designed to raise revenue for SPR facility maintenance and upgrades. Given current oil markets, this is not the optimal time for the sale.

[…]

The Department continually monitors and evaluates global oil markets and will provide updated information as market conditions change.


Any message or comments?

pre-moderation

This forum is moderated before publication: your contribution will only appear after being validated by an administrator.

Who are you?
Your post

To create paragraphs, just leave blank lines.