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The IEA's Trillion Dollar Theft from Oil Producers

The March 31 strategic stock release has transferred $1 trillion (at annual rates) from oil producers to refiners. Saudi Arabia lost $100 billion and Pioneer Natural Resources $1.18 billion. Consumers received no benefit. Click here to read more.

Stock Release Did Not Benefit Consumers

The release stopped crude prices from rising while product prices continued to increase. Through August 8, refiners have enjoyed a margin increase of $28/bbl.

The IEA Strategic Stock Release (August 8, 2022) -- The crude sales from reserves may cost oil producers $1 trillion (at annual rates).

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