The United States will sell 18 million barrels of oil from its reserves on December 17

The Department of Energy of U.S It said on Friday it will sell 18 million barrels of crude from the strategic oil reserve on December 17, as part of a previously announced plan to cool oil prices.

The government of the president Joe Biden announced last month that it would release some 50 million barrels of its reserves along with other countries to combat the rising cost of fuel.

The prices of the Petroleum They rose to a seven-year high of more than $ 86 a barrel in November due to growing demand for fuel around the world.

The 18 million barrels to be sold had already been approved by Congress in 2018. The remaining barrels will be available in the coming months.


Leave a Comment