The United States will release liquefied natural gas and liquefied petroleum gas from its strategic reserves to sell to ASEAN members, Deputy Secretary of State Christopher Landau said today at an ASEAN event in Vietnam.
US crude oil inventories are projected to reach their lowest point since at least 2003, according to the US EIA. The agency reported that the world’s largest economies are drawing down stockpiles at a record pace to compensate for the loss of over 11 million barrels per day of Middle Eastern supply resulting from the ongoing conflict.
Curious Minds Corner
How many Olympic-sized swimming pools get filled daily by global oil production?
About 60, as daily output hits 100 million barrels (each pool holds ~660,000 gallons).