The energy shock caused by the US-Iran conflict is forcing the Trump administration to accelerate new measures to lower oil prices. Bessen said on Thursday that Washington is considering lifting some sanctions on Iranian crude oil at sea in the coming days, involving about 140 million barrels of oil, with the intention of increasing supply and easing price pressure within the next 10 to 14 days. At the same time, the United States has also tapped its strategic oil reserves and further eased transaction restrictions on Venezuela's state-owned oil company PDVSA on Wednesday, in an effort to bring more crude oil into the market. These actions indicate that as the Gulf situation pushes up global energy risks, the White House is taking action simultaneously from three fronts: sanctions, reserves, and alternative supplies, trying to stabilize the market in the short term. Reuters reported that the latest general license issued by the United States has widely authorized American companies to do business with PDVSA, seen as an important step to expand global crude oil supply and hedge against the impact of the Middle East conflict.
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Original: toutiao.com/article/1860160249776137/
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