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The US Continues To Export Record Levels of Oil Reserves Despite Record High Gas Prices

by Michael Robison


The historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices led to more than 5 million barrels of oil being exported to Europe and Asia last month, despite record-high gas and diesel prices.

The news of the export to other nations was reported by Reuters a week ago and raised concern over the continued mismanagement of resources by the Biden Administration. 

Oil exports from the U.S to reach an all-time high of 3.3m b/d in the current quarter as refinery disruptions and Strategic Petroleum Reserve releases increase available supplies, Rystad Energy says


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