The US Department of Energy is preparing to hold another sale of oil from the strategic fuel reserve, where 635 million barrels of raw materials were stored at the beginning of March. The #WTI auction is scheduled for March 10th.
The supply volume is 12 million barrels of crude oil for delivery in April and May.
Although the volume does not break records, nevertheless even such a moderate impact on the world balance of the cost of black gold will help to keep oil quotes at low values.
Also, if we consider this situation in conjunction with the actions of OPEC, it turns out that the United States is aggressively and successfully squeezing competitors from the commodity market.
It can be assumed that OPEC measures are ineffective. They can only pretend that everything is under control, when it is not at all. We forecast a moderate decline in oil quotes in the first half of this year.