Many countries release crude oil reserves to stabilize oil prices Industry insiders: It may not be easy to reverse the trend in the short term

Since the second half of this year, the global energy crisis has intensified, not only natural gas prices have soared, but the two major international crude oil futures have also risen by more than 60%
this year.
For example, the United States announced that it would release 50 million barrels of strategic crude oil reserves in mid-to-late December, and India, Japan, the United Kingdom, South Korea, etc.
also said that they would release corresponding crude oil reserves
.
However, industry insiders believe that the growing demand and changes in the global energy pattern may not be easy
to reverse the trend of international oil prices in the short term.

Data show that since the beginning of this year, the daily crude oil consumption in the United States has been about 19.
68 million barrels / day, an increase of about 7.
5% over last year; Meanwhile, U.
S.
crude oil production averaged 11.
4 million b/d in October, down 12% from the same period in 2019, further widening the supply-demand gap
.
Recently, Horub, CEO of Occidental Petroleum in the United States, publicly shouted Biden, hoping to revitalize the shale oil industry and fill the gap
between supply and demand.
However, some oil companies have not continued to increase their bets on traditional fossil energy and have instead engaged in the development of
new energy businesses.