Likes ReceivedThe first batch of U.S. strategic petroleum reserve sales were swap sales. Releasing (lending out) one barrel now means having to return approximately 1.2 barrels in the future. The earliest repayment starts from September, and the latest ends by September 2028. The U.S. government achieved cost-free oil price suppression, but at the expense of raising the forward month contract curve. This is beneficial for oil and gas exploration companies.$CNOOC(00883.HK)
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