Is It Time To Refill The Strategic Petroleum Reserve? ...Middle East

OILPRICE - Economy
Is It Time To Refill The Strategic Petroleum Reserve?
source : OILPRICE ( Middle East ) () 35
There is a narrative that I hear from time to time that President Biden made billions of dollars for the country by selling oil from the Strategic Petroleum Reserve (SPR) last year at high prices and buying it back at low prices. The only problem is that the story is only half true. The Biden Administration did indeed sell a lot of oil from the SPR last year. Further, oil prices in 2022 were the highest they had been in years, averaging nearly $95 a barrel — the highest level since 2013. However, the Biden Administration hasn’t bought…

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