Top Oil Trader + 469 JJ July 15, 2018 (edited) If trump wanted to just lower the prices of oil, he would just need release the SPRs, and from what I see, this will be the greatest and quickest impact on oil prices. I mentioned this already in an earlier post, but I wanted to show some updated links on the matter. The stories below mention that they want to see how that impacts the oil prices. By the way the SPRs contain more than 700 Mill Barrels, probably about 730 Mill barrels of oil. Right now the price of WTI is about $70.xx. The average price of the SPRs is less than $30. So if Trump wanted he could force the price of oil down to the 62.5, before hitting the 50s, (indeed my first target), if he so wishes. https://www.bloomberg.com/news/articles/2018-07-13/trump-said-to-mull-tapping-u-s-oil-reserve-as-pump-prices-rise https://www.cnbc.com/2018/07/13/trump-reportedly-considers-tapping-emergency-oil-supplies-to-tame-crud.html Edited July 15, 2018 by Top Oil Trader spelling Quote Share this post Link to post Share on other sites
Justin Hicks + 162 JH July 16, 2018 Strategic reserve contains 660 million barrels. To release 30- 50 million barrels would not mean much unless it was consistent. You've got to remember, daily world production is around the 90 million barrel mark. 2 Quote Share this post Link to post Share on other sites
Rodent + 1,424 July 16, 2018 The US releases batches of oil from SPR all the time. in fact, there are bills that require periodic sales. it is unclear whether this would be in addition to those mandates. https://www.eia.gov/todayinenergy/detail.php?id=35032 1 Quote Share this post Link to post Share on other sites
Top Oil Trader + 469 JJ July 16, 2018 You are right, it is not much, this is why its just a test. If it has some effect, they will release as much as they need to, to make the prices go down, to whatever they think is appropriate. Quote Share this post Link to post Share on other sites
Seleskya + 50 AS July 17, 2018 It has had an effect on prices just mentioning the sell-off of as much as 30 million barrels ... (or more) 1 1 Quote Share this post Link to post Share on other sites