Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent in Gaza: The tower destroyed by the Israeli occupation in Gaza includes media offices, including Al Mayadeen's bureau.
Al Mayadeen's correspondent in Gaza: Four fetuses and three premature babies died at Nasser Medical Complex due to malnutrition
Lebanese Ministry of Health: One person was killed in an Israeli airstrike on a car in the town of Burj Qalawieh, south Lebanon.
Al Mayadeen correspondent: The first ship of the Maghreb fleet delivering aid to break the siege on Gaza departs from the port of Gammarth in Tunisia.
Channel 12: Airspace closed at Ramon Airport due to fears of drone infiltration
IOF Spokesperson: Sirens sounded over an aircraft infiltration in the Bir Ora area, and details are being examined
Drone infiltration sirens sound north of the Gulf of Aqaba
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out five extremely violent raids on the western areas of Gaza City
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out major bombings in the Gaza Strip, the most violent since October 7
Yemeni Armed Forces spokesperson Brigadier General Yahya Saree: The missile force carried out a major operation using the Palestine 2 ballistic hypersonic missile, hitting several targets in occupied Yafa.

US strategic oil reserves reach historic low as Biden taps further

  • By Al Mayadeen English
  • Source: Agencies
  • 8 Oct 2022 08:03
  • 2 Shares
2 Min Read

The US makes the unwise decision to continue tapping into its oil reserves in hopes of decreasing oil prices further.

  • x
  • Oil Reserves in the United States (EPA)
    Oil Reserves in the United States (EPA)

As Washington tries to control the nation's gas prices, US President Joe Biden's decisions this year have led to a serious depletion of the US Strategic Petroleum Reserve.

According to statistics released by the US Department of Energy, the US emergency oil reserves this week included just 416.4 million barrels, which is the lowest amount since 1984.

In response to the ongoing war in Ukraine, and consequently the anti-Russia sanctions imposed by the US, Russian energy exports became limited thus creating a worldwide shortage.

As a result, oil prices in the US increased, proving the counter-productiveness of anti-Russia sanctions.

Related News

US finalizes $2.5Bln loan to build 3 EV battery plants: Energy Dept.

US Energy Dept. 'concerned' over threats to EU energy infrastructure

Subsequently, Biden ordered the withdrawal of 180 million barrels of oil from the US strategic reserve over the course of six months in an effort to bring down the cost of fuel. The White House further noted, later, that an additional 10 million barrels will be released in November.

On Wednesday, the OPEC+ states voted on cutting their production of oil and agreed to reduce their oil production by 2 million barrels a day in light of the world's surging energy crisis and the G7 agenda to introduce a price cap on Russian crude oil.

The US is concerned that OPEC's probable decision to reduce oil production will pose serious problems for the country and may even be interpreted as a hostile act, according to a US Treasury report.

Following the vote at OPEC+ that ratified the slashing of 2 million barrels per day in oil production, the US decided to tap further into their oil reserves. This decision will likely drive oil prices in the US even higher.

According to Fox Business, the average price of petrol in the US is currently $3.86 a gallon, which is better than the $5.01 per gallon observed in June but still 29% pricier than it was a year ago.

Read more: US considering 'response options' for OPEC+ oil cut, some against KSA

  • US Department of Energy
  • US oil reserves
  • US Oil Prices
  • Oil reserves
  • Joe Biden

Most Read

The damaged building in the Katara neighborhood, Doha, Qatar, September 9, 2025 (Social media)

Hamas delegation survives Israeli assassination attempt in Qatar

  • Politics
  • 9 Sep 2025
Pro-"Israel" conservative Charlie Kirk shot during Utah speech

American far-right activist Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Australia warned of deadly climate risks in landmark report
Environment

Millions at risk from rising seas, extreme heat in Australia: Report

DPRK leader Kim Jong Un inspects a new weapons factory in undisclosed location, Democratic People's Republic of Korea, August 31, 2025 (AP)
Politics

DPRK defies US, says nuclear state status 'permanently enshrined'

Soldier F faces trial over bloody Sunday killings after 53 years
Miscellaneous

British Soldier F faces trial over Bloody Sunday killings after 53 yrs

Pro-Palestinian protesters demonstrate at the University of Sydney to protest the Israel Hamas war, Wednesday, April 24, 2024 (AP)
Politics

Protest outside ABC decries media silence on Gaza journalist killings

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS