Wednesday, March 22, 2023
  • About Us
  • Contact Us
  • Privacy Policy
  • Disclaimer
Burj News
  • Home
  • Latest
  • World
    • Asia
    • Europe
    • Africa
    • America
  • Pakistan
    • National
  • News
  • Politics
  • Business
  • Sports
    • Cricket
  • Entertainment
  • Blogs
    • Culture
    • Opinion
    • Lifestyle
  • Urdu
No Result
View All Result
Burj News
  • Home
  • Latest
  • World
    • Asia
    • Europe
    • Africa
    • America
  • Pakistan
    • National
  • News
  • Politics
  • Business
  • Sports
    • Cricket
  • Entertainment
  • Blogs
    • Culture
    • Opinion
    • Lifestyle
  • Urdu
No Result
View All Result
Burj News
No Result
View All Result
Home Latest

USA going to Sell Oil from Petroleum Reserves to Bring down Prices

Web Desk by Web Desk
October 19, 2022
in Latest, America, World
0
USA going to Sell Oil from Petroleum Reserves to Bring down Prices

USA going to Sell Oil from Petroleum Reserves to Bring down Prices

491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

According to the sources, The USA plans to sell oil from the Strategic Petroleum Reserve in a bid to bring down fuel prices before next month’s congressional elections.

USA President Joe Biden’s announcement is expected this week as part of the response to Russia’s war on Ukraine, one of the sources said.

Related posts

7.7 Powerful Magnitude Earthquake Jolts different cities of Pakistan

7.7 Powerful Magnitude Earthquake Jolts different cities of Pakistan

March 21, 2023
Lahore High Court approves Imran Khan's Protective Bail in Two Cases

Lahore High Court approves Imran Khan’s Protective Bail in Two Cases

March 21, 2023

Also Read : Saudi Arabia pushed OPEC nations into an output cut, leading to escalate a war of words between the US and Saudi government

The sale would market the remaining 14 million barrels from Biden’s previously announced, and largest-ever, release from the reserve of 180 million barrels that started in May.

The USA administration has also spoken with oil companies about selling an additional 26 million barrels from a congressionally mandated sale in the fiscal year 2023, which began on 1st Oct.

The Department of Energy will also release further details on buying the oil back, reflecting the White House’s desire to combat rising pump prices while supporting domestic drillers.

Rising retail gasoline prices have helped boost inflation to the highest in decades, posing a risk to Biden and his fellow Democrats ahead of the Nov. 8 midterm elections, in which they are seeking to keep control of Congress.

President Biden said last week that gasoline prices are too high and that he would have more to say about lowering costs this week. Deputy energy secretary David Turk also said last week the administration can tap the Strategic Petroleum Reserve, or SPR, in the coming weeks and months as necessary to stabilize oil.

The administration has spoken with energy companies about buying back oil through 2025 to replenish the SPR, the sources said, after Biden in March announced the biggest sale ever, 180 million barrels, from May to October.

The Energy Department still has about 14 million barrels of SPR oil left to sell from the historic release, because selling was slowed in July and August by holidays and hot weather.

Read More : Saudi King Salman said the Kingdom was working hard to support stability & balance in the Oil markets

Tags: burj newsOPECPetroleum ReservesPetrolpricesStrategic Petroleum ReserveUSAUSAPresident
Previous Post

Joe Biden administration wants strong ties with Pakistan – US Senator Chris Hollen

Next Post

Former legendary Indian cricketer Sachin Tendulkar predicted four Semifinalist of the T20 World Cup 2022

Next Post
T20 WORLD CUP TEAM'S

Former legendary Indian cricketer Sachin Tendulkar predicted four Semifinalist of the T20 World Cup 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Bollywood star Deepika Padukone hospitalized during a shoot after feeling not well

Bollywood star Deepika Padukone hospitalized during a shoot after feeling not well

6 months ago
PDM Government going to form JIT to inquire regarding the audio leaked tape from PM House

PDM Government going to form JIT to inquire regarding the audio leaked tape from PM House

6 months ago
English Singer & Songwriter Dua Lipa 'Pursue Acting' as she receives offers from Film Industry

English Singer & Songwriter Dua Lipa ‘Pursue Acting’ as she receives offers from Film Industry

3 months ago
Zarnish Khan Likely to Quit Showbiz Industry for Sake of Islam

Pakistani Actress Zarnish Khan Likely to Quit Showbiz Industry for Sake of Islam

1 month ago

BROWSE BY CATEGORIES

  • America
  • Asia
  • Blogs
  • Business
  • Cricket
  • Culture
  • Education
  • Entertainment
  • Europe
  • Health
  • Latest
  • Lifestyle
  • National
  • News
  • Opinion
  • Pakistan
  • Politics
  • Science
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • World

POPULAR NEWS

  • Dani Daniels respond to Twitter after Bazid Khan mistakenly called her during the live cricket match

    Dani Daniels respond to Twitter after Bazid Khan mistakenly called her during the live cricket match

    1618 shares
    Share 647 Tweet 405
  • Punjab Government likely to extend School’s winter vacations for one more week

    796 shares
    Share 318 Tweet 199
  • Actor Feroze Khan files Defamation case against ten leading celebrities of Pakistan

    745 shares
    Share 298 Tweet 186
  • Actress Sajal Aly responds to Social media rumors alleged by Maj (r) Adil Raja

    631 shares
    Share 252 Tweet 158
  • People Shocked after hearing that 14 Million Pakistani will Get Visa Easily!

    607 shares
    Share 243 Tweet 152
Logo-2

Burj News is the 21st Century Most Popular Internet News , Which Provide you the Most Authentic and Viral And Reliable News.

Follow us on social media:

Recent News

  • 7.7 Powerful Magnitude Earthquake Jolts different cities of Pakistan
  • Lahore High Court approves Imran Khan’s Protective Bail in Two Cases
  • IMF raises concerns over Govt Petrol Subsidy scheme

Category

  • America
  • Asia
  • Blogs
  • Business
  • Cricket
  • Culture
  • Education
  • Entertainment
  • Europe
  • Health
  • Latest
  • Lifestyle
  • National
  • News
  • Opinion
  • Pakistan
  • Politics
  • Science
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • World

Contact

Office 4026
182-184 High Street North
East Ham , London , UK

Phone: +447418 344879

Office No 27 Satellite Town Quetta,
Quetta, Balochistan, Pakistan
Phone: 0812441251

Email: info@burjnews.com

  • About Us
  • Corrections Policy
  • People
  • Ethics Policy
  • Fact-Checking Policy
  • Ownership & Funding Info

© 2022 Burj News - All Right Reserved

No Result
View All Result
  • Home
  • Latest
  • World
    • Asia
    • Europe
    • Africa
    • America
  • Pakistan
    • National
  • News
  • Politics
  • Business
  • Sports
    • Cricket
  • Entertainment
  • Blogs
    • Culture
    • Opinion
    • Lifestyle
  • Urdu

© 2022 Burj News - All Right Reserved