The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year’s record 180 million barrel release from the stockpile. The […]
Authored by Patrice Douglas via RealClearEnergy.org, Our nation’s Strategic Petroleum Reserve (SPR) is running dangerously low. New statistics released indicate our national emergency oil stockpile, which is intended to protect the United States from unexpected […]
Beginning in November 2021, President Joe Biden’s administration has used the Strategic Petroleum Reserve (SPR) to combat rising gas prices. In March of 2022, the administration announced a new release of 180 million barrels of […]
How the Biden administration addresses the shortage of distillate fuel oil in the United States will show if President Joe Biden will put America first, said an industry insider. “From the consumers’ standpoint, [it will show] who […]
A remarkable political consensus has emerged: the world needs more oil. Confirmation of that reality didn’t come from any oil executive but from President Biden, who recently admonished U.S. oil companies “to deploy these record-breaking profits to […]
Crude oil prices continued their fall on Tuesday, with WTI now dipping to levels not seen since before the OPEC+ meeting. The November contract for WTI crude fell to $83.22 per barrel on Tuesday afternoon—sliding […]
Marathon Petroleum Supply and Trading bought just under a quarter of the crude oil offered in the US Department of Energy’s latest sale from the Strategic Petroleum Reserve, with Equinor Marketing & Trading and Motiva […]
Energy analysts believe deep production cuts from OPEC+ could yet backfire for U.S. ally Saudi Arabia. OPEC and non-OPEC allies, a group often referred to as OPEC+, agreed on Wednesday to reduce oil production by […]
Oil demand has remained resilient in the face of a multitude of challenges. OPEC+ has fallen behind more than 3.5 million bpd on its output goals. The DoE has no immediate plans to start refilling […]
The Strategic Petroleum Reserve, which was established in 1975 as a reaction to the 1973 oil embargo, is now at its lowest level since December 1984. Ultimately, the SPR is not as important today as […]
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