Fuels: reserves released to lower prices

Posted

Update

FRANCE 2

Article written by

J. Weyl, A. Husser, M. Le Rue, A. Boulet

France 2

France Televisions

China, the United Kingdom and the United States have announced that they have released their fuel reserves. The aim is to bring down oil prices, which have been on the rise for months.

President Joe Biden made a solemn announcement, marking the importance of the news: “We are launching a major initiative to lower oil prices. An effort whose reach will extend to the whole world “. Americans are preparing to draw nearly 50 million barrels of gasoline. A colossal figure, but which represents only half of a day of global gasoline consumption.


The pressure exerted by the United States, followed by China and the United Kingdom aims to lower oil prices, which are rising sharply due to prices set by producing countries, which refuse to lower them. For Céline Antonin, economist and oil specialist, “this kind of unblocking is not thought to deal with the crisis in the long term”. This is only the third time that strategic stocks have been used after the first oil shock and the war in Libya, in 2011.

Oil price

The echoes

OFCE

Non-exhaustive list

Leave a Comment