The administration of US President Joe Biden announced today, Tuesday, the release of 50 million barrels of strategic oil reserves within months. How much is the total US reserve stock?
According to the US Department of Energy (Office of Fossil Energy and Carbon Management), the strategic reserve is 604.5 million barrels (as of November 19), indicating that this reserve is stored in a government complex consisting of four sites with deep underground storage caves established in Salt domes along the Gulf coasts of Texas and Louisiana. The ministry stated that the strategic reserve was filled to its authorized storage capacity, which amounted to 727 million barrels on December 27, 2009, but the sale and withdrawal from it led to the reduction of the stock to 695.9 million barrels by 2011, indicating the highest stock of the strategic reserve amounted to 726.6 million barrels. However, the report did not mention the year in which the reserve stock reached its highest levels. She stated that up to 4.4 million barrels per day can be pumped from the strategic reserve, while the process of entering oil from the reserve stock into the American market can take only 13 days from the date of a presidential decision. The United States began building the strategic oil reserves in 1975, after the Arab oil embargo led to a rise in gasoline prices and harmed the American economy. American coast on the Gulf of Mexico.
Source : RT