Donald Trump believes that now is a great time to buy oil
Such a move would save billions of dollars and help ensure US energy independence, Donald Trump reads.
The United States will purchase large volumes of oil to form a strategic reserve. This was announced by US leader Donald Trump announced at a press conference in the White House on Friday, March 13.
вЂњGiven current oil prices, I instructed the Secretary of Energy to buy large volumes of crude oil at a very competitive price. It will be stored in the US and will become a strategic reserve,вЂќ the president said.
Trump believes that such a step will be useful to the entire US energy industry, will help ensure the country's energy independence, and also вЂњwill save billions of dollars in taxpayers.вЂќ
вЂњWe will fill (oil storage) to the maximum. Now is a great time for that,вЂќ the American leader emphasized.
Note that the United States already has the largest strategic oil reserves in the world. They exceed 600 million barrels.
This week it became known that the United States decided to cancel the planned sale of oil from the strategic reserve due to the collapse of prices for black gold.
Earlier, the US Department of Energy planned to sell oil from reserves worth up to $450 million in 2020.