US SPR Release Aims to Replace Russian Urals

摘要

The US government will offer mostly sour crude in the Orst batch of the record 180 million barrel release from the nation’s Strategic Petroleum Reserve (SPR) that was announced on Thursday. Releasing oil from emergency stocks should address the shortage in global supply, a distortion in the trade of Russian Urals since the February invasion of Ukraine, and aims to bring down global oil prices.