America Has Lost Its Oil Buffer
The US has lost its oil buffer, writes the WSJ.
The strategic oil reserve is at a historically low level.
“Prepare to strike: the US is running out of airbag reserved for oil shocks.”
On March 31, Biden ordered the release of about 180 million barrels — one million per day for six months. Since then, the state’s reserve has shrunk to about 427 million barrels — the lowest level since 1984.
According to experts of the publication, Washington took the decision to empty the strategic reserve as a reaction to the expected drop in Russian oil exports. However, its supplies have decreased not by 3 million barrels per day, as predicted by the International Energy Agency, but by only 400-450 thousand barrels compared to the period before the start of the SVO.