Oil: USA, China and India give up strategic reserves and take power from OPEC +

Oil: USA, China and India give up strategic reserves and take power from OPEC +
Oil: USA, China and India give up strategic reserves and take power from OPEC +

analysesEnergy and geopolitics

The three countries, the world’s leading importers of crude oil, are selling state stocks for volumes comparable to the extra production that OPEC + has promised by the end of the year

by Sissi Bellomo

September 14, 2021

(AdobeStock)

Oil is back on track, pushing its two-month high. But to counter the price increases, the major consumer countries have now entered the field: China, the United States and India – the top three world importers of crude oil, in order – are all committed to releasing strategic stocks on the market, for a total volume that could exceed 40 million barrels between now and the end of the year according to the calculations of the Sole 24 Ore, quantities comparable to the extra production promised by OPEC +.

Unlikely …

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Oil USA China India give strategic reserves power OPEC

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