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Sputnik | US to Release 1 Million Barrels of Oil a Day From Strategic Reserves Over Next Six Months, 31 Mar
The White House announced on Thursday it would begin releasing 1 million barrels of oil per day from the US Strategic Petroleum Reserve, the largest such release in US history. The release will last for the next six months, totaling roughly 182 million barrels of oil. The reserve's capacity is 727 million barrels, according to the US Department of Energy, spread out in storage facilities across the United States.
White House | Remarks by President Biden on Actions to Lower Gas Prices at the Pump for American Families*, 31 Mar
...Look, the action I'm calling for will make a real difference over time.  But the truth is it takes months, not days, for companies to increase production. That's why the next part of my plan is so important.

Today, I'm authorizing the release of 1 million barrels per day for the next six months -- over 180 million barrels -- for the Strategic -- from the -- from the Strategic Petroleum Reserve.

This is a wartime bridge to increase oil supply until production ramps up later this year.  And it is by far the largest release from our national reserve in our history. It will provide a historic amount of supply for a historic amount of time -- a six-month bridge to the fall. ...

yahoo!Finance CNN | Russian oil tankers have vanished from tracking systems. Someone is buying that crude and we don't know who, "dark" activity
Dark activity is seen by the U.S. government as a deceptive shipping practice used to evade sanctions. ["]International regulation["] requires ships to always keep their transponders switched on, and the U.S. Treasury Department said in a [US] sanctions advisory note to the maritime industry, energy and metals sectors in May 2020, that any automatic identification system "manipulation and disruption may indicate potential illicit or sanctionable activities."
Energy research firm Rystad Energy estimated that 1.2 million to 1.5 million barrels per day of Russian crude oil exports vanished in the five weeks since the war against Ukraine began.

The destination of the remaining crude exports from Russia is "increasingly unknown," Rystad Energy wrote in a report this week, estimating in total around 4.5 million barrels of oil have mysteriously gone missing.

[Yet] Analysts say that refineries in China and India are buying up some of the Russian oil products. According to CNBC, there has been a "significant uptick" in Russian oil deliveries to New Delhi, and China is also being lured by the oil traded at a deep discount [sic].

"international community
The countries in yellow have sanctioned Russia. The countries in gray have not sanctioned Russia.

* mentions proposed amdt to "Bipartisan Infrastructure Law": $3.2B available "to provide up to $6,500 direct [grant] for working-class families to be able to weatherize their homes," possibly solar or heat pump installtion. bwahaaha

by Cat on Fri Apr 1st, 2022 at 01:34:39 PM EST

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