The US administration does not plan to continue selling oil from the strategic reserve after the specified date

The White House confirmed that the US administration does not plan to continue selling oil from the strategic reserve after the date set by President Joe Biden, which ends in March next year.

“Today, we do not plan to continue doing this,” said Brian Deese, chairman of the White House National Economic Council, on this occasion. “We need the private sector to ensure production. And we have these resources, and they play an important role.” important role, but it won’t happen.” Always a solution.

Dees recalled that Biden signed an executive order at the end of March requiring the Energy Department to sell one million barrels of oil per day for 180 days to lower gasoline prices in the country.

He indicated that the US administration had held consultations with oil companies and asked them to increase oil production.

He added: “We have heard from many in the sector that by October they will be able to increase production by about 1 million barrels per day. Therefore, the sale of 1 million barrels per day from the strategic reserve over 6 months should serve as a bridge to the mentioned period. still our goal.

Source: TASS