Founder of the New York Energy Hedge Foundation Again Capital John Kildaff appreciated the decision of the US President Joe Bayden about the release of 50 billion barrels of oil from the US strategic reserve. It is reported by RIA Novosti.
According to the specialist, during the peak demand for heating, this measure will be able to lower the prices of fuel in the country, further will depend on the behavior of other manufacturers.
“We need about a million barrels per day additionally to fill the lack. At first glance, it should help us survive the beginning of January, and then, depending on what will be done in Asia, the situation may change,” he said .
Kildaff also mentioned other factors that may affect the dynamics of prices. “The other side of the puzzle, of course, are new COVID outbreaks in Europe, which not many in the energy markets may have expected. These restrictions are a real problem for energy demand,” the analyst stressed.
Previously, the State Duma deputy Delyagin called the production of oil reserves in the United States by a sign of the cost of the situation. “This is a measure to contain the increase in oil prices for oil is related to the fact that the passion for climatic fraud and a strong run forward in the field of green technologies has plunged the West to the energy crisis. And keep prices for price, keep them at an acceptable level, taking into account the middle-class depletion is impossible,” – I am sure the deputy.
Earlier, US President Joe Biden announced the release of 50 million barrels of oil from the strategic reserve of the country. The decision to use strategic reserves also accepted China, India, Japan, South Korea and the United Kingdom.