US EditionRethinking the role of the Strategic Petroleum Reserve
The U.S. Strategic Petroleum Reserve, at 57% capacity, faces debate over size and use as the country exports over 2 million barrels daily, officials say.
- The DOE reviews the SPR after a 180 million-barrel emergency release, with stocks at 410 million barrels or 57% of capacity.
- International shocks and tight markets spurred the policy reassessment as the United States became an exporter of more than 2 million barrels per day and Russia’s invasion of Ukraine raised energy security concerns.
- Analysts note the SPR can function bidirectionally, with empty underground salt caverns enabling U.S. purchases during market weakness and crude-quality mismatches complicating refinery use.
- Congress’s mandated sales have materially reduced SPR inventories, with 358.6 million barrels sold; the Biden administration cancelled 140 million barrels for $10.4 billion, while DOE repurchased 59 million barrels at lower prices.
- Policymakers must balance strategic uses against congressional budget pressures, as experts say SPR buying could matter if a glut arrives next year and recommend timing purchases in weaker markets.
35 Articles
35 Articles
Rethinking the role of the Strategic Petroleum Reserve | News Channel 3-12
Brandon Bell // Getty Images The United States’ Strategic Petroleum Reserve hit a four-decade low in mid-2023—at 347 million barrels, or less than half the reserve’s capacity—and today stands at 410 million barrels or 57% of the SPR’s 714 million barrel authorized capacity. This pool of presidentially controlled crude oil is a strategic asset, but also an internationally agreed-upon reserve squirreled away in case of emergency. At current pric…
Rethinking the role of the Strategic Petroleum Reserve
Brandon Bell // Getty Images The United States’ Strategic Petroleum Reserve hit a four-decade low in mid-2023—at 347 million barrels, or less than half the reserve’s capacity—and today stands at 410 million barrels or 57% of the SPR’s 714 million barrel authorized capacity. This pool of presidentially controlled crude oil is a strategic asset, but also an internationally agreed-upon reserve squirreled away in case of emergency. At current pric…
Rethinking the role of the Strategic Petroleum Reserve
Brandon Bell // Getty Images The United States’ Strategic Petroleum Reserve hit a four-decade low in mid-2023—at 347 million barrels, or less than half the reserve’s capacity—and today stands at 410 million barrels or 57% of the SPR’s 714 million barrel authorized capacity. This pool of presidentially controlled crude oil is a strategic asset, but also an internationally agreed-upon reserve squirreled away in case of emergency. At current pric…
Rethinking the role of the Strategic Petroleum Reserve
Brandon Bell // Getty Images The United States’ Strategic Petroleum Reserve hit a four-decade low in mid-2023—at 347 million barrels, or less than half the reserve’s capacity—and today stands at 410 million barrels or 57% of the SPR’s 714 million barrel authorized capacity. This pool of presidentially controlled crude oil is a strategic asset, but also an internationally agreed-upon reserve squirreled away in case of emergency. At current pric…
Rethinking the role of the Strategic Petroleum Reserve
Brandon Bell // Getty Images The United States’ Strategic Petroleum Reserve hit a four-decade low in mid-2023—at 347 million barrels, or less than half the reserve’s capacity—and today stands at 410 million barrels or 57% of the SPR’s 714 million barrel authorized capacity. This pool of presidentially controlled crude oil is a strategic asset, but also an internationally agreed-upon reserve squirreled away in case of emergency. At current pric…
Rethinking the role of the Strategic Petroleum Reserve
Brandon Bell // Getty Images The United States’ Strategic Petroleum Reserve hit a four-decade low in mid-2023—at 347 million barrels, or less than half the reserve’s capacity—and today stands at 410 million barrels or 57% of the SPR’s 714 million barrel authorized capacity. This pool of presidentially controlled crude oil is a strategic asset, but also an internationally agreed-upon reserve squirreled away in case of emergency. At current pric…
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