16 October
Oil growth continues despite the measures taken to contain prices
Due to the fact that the market has not reacted to the actions taken by US President Joe Biden to curb the rise in energy prices that have fueled inflation, oil continues to rise.
The US President announced that 15 million barrels of oil had been released from the strategic reserve. He also noted the likelihood of additional supplies, but no measures such as limiting fuel exports were announced.
The reduction of fuel reserves is observed from Europe to the USA. According to the Energy Information Administration, diesel fuel reserves in the United States have decreased to the lowest level since 2008, to 25 days, as fuel consumption spikes as winter approaches. Crude oil reserves were also reduced by 1.73 million barrels last week.
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