As Oil Prices Surge, US Has 638 Million Barrels Underground in These 2 States
As Oil Prices Surge, US Has 638 Million Barrels Underground in These 2 States Douglas A. McIntyre © Provided by 24/7 Wall St. With West Texas Intermediate (WTI) crude oil prices at a 52-week high of $66.42 a barrel, the U.S. Department of Energy announced last week that it had awarded contracts for sales of 10.1 million barrels of crude oil from the U.S. Strategic Petroleum Reserve (SPR). The expected end of the COVID-19 pandemic, combined with restricted production from the OPEC+ group, have been moving crude prices higher since November, following the announcement of two v...