Baku 18° C
US faces 7-year race to refill oil reserves
Other countries
- 07 March, 2025
- 15:26
Add Report.az to preferred Google sources
Stay up to date with the top news!
The United States will need between five and seven years to fully replenish its Strategic Petroleum Reserve, US Secretary of Energy Chris Wright said, Report informs via TASS.
It is crucial to replenish the reserve as soon as possible, but there is a speed limit to how fast it can be done, the secretary said, adding that it will take five, six, or seven years to fully restore the Strategic Petroleum Reserve.
According to him, oil from the reserve can be consumed "very quickly," but refilling it takes "much longer."
In February, US President Donald Trump pledged to "refill" the country’s Strategic Petroleum Reserve.
Author
Latest News
13:25
Azerbaijan proposes six-year VAT exemption for agricultural machinery
Business
13:13
Erdogan to visit Azerbaijan for Victory Day celebrations
Foreign policy
13:08
Azerbaijan plans to introduce hourly wages, electronic salary payments
Business
13:03
Photo
Central Bank of Azerbaijan, Binance mull crypto regulation, tokenization
Finance
12:49
50% of income from sale of animals may be exempted from taxation in Azerbaijan
Business
12:48
UN official: Strengthening trust in state institutions extremely important
Foreign policy
12:35
Average pension in Azerbaijan to reach $376 in 2027
Finance
12:33
Azerbaijan's parliament discusses 2027 subsistence minimum
Milli Majlis
12:27
Azerbaijani chess player Read Samadov wins bronze at U20 World Championship
Individual sports