the past releases of strategic reserves have done nothing to the oil price - oil prices have just kept going up and up.
this next release will only have a short term impact, if any, as the underlying problems still exists AND the US will have to buy back oil at a later date to replenish the already depleted reserves.
Covid is fading and that will mean more oil demand. The China lockdown will relax in due course.
Sadly wars also use a LOT of oil as heavy machines need a lot of fuel to move anywhere.
The Russian oil industry is going to struggle for a number of years as well
Plus the world has had significant Uunderinvestment in oil developments and exploration for many years - this has implications and cannot be fixed overnight and the chickens are now coming home to roost.
THE ONLY WAY IS UP., page-2235
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