America releases half of its oil reserves to mitigate the effects of the Middle East war
The United States of America released more than 89 million barrels of US energy, which is far below pre-war levels, and has even reached its lowest level since 1983.
Mitigating the effects of war
As part of joint efforts with other countries to mitigate the effects of war in the Middle East, Washington pledged to gradually release 172 million barrels to address the absence of some hydrocarbon exports from the Gulf.
On the other hand, the Energy Information Agency, in its weekly report, indicated an additional decline in oil stocks. Trade last week (3.8 million barrels), reaching a level not seen since 2018.
Exports fell to only 4 million barrels per day, as did imports (about 5.3 million barrels).
Domestic production remains stable at more than 13 million barrels per day, and refineries have maintained a high pace of their production capacity, at 96.6%.
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