📍Countries are taking advantage of high oil prices to release reserves


📌From March to June, the amount of oil released from the global strategic reserves reached about 265 million barrels. If including July, the figure approaches 285 million barrels.
The release rate is expected to slow down from July. June still had about 76M -> 22M in July, a decrease of over 70%. Countries are simply exploiting high oil prices to make profits and restructure their reserves.
📌Neither side believes oil prices will stay high for long. If the world believed that oil prices would sustain a steady upward trend, countries would buy more instead of selling at this time.
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