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 […]
ENB Pub Note: This is a horrific decision by the Biden administration. It will only exacerbate the supply issues facing the world oil supply in December. Replacement of the oil will be a problem, and […]
HOUSTON, Sept 12 (Reuters) – U.S. emergency crude oil stocks fell 8.4 million barrels last week to 434.1 million barrels, their lowest since October 1984, according to U.S. Department of Energy (DOE) data released on […]
HOUSTON, Sept 8 (Reuters) – U.S. President Joe Biden’s administration is weighing the need for further releases of crude oil from the nation’s emergency stockpiles after the current program ends in October, Energy Secretary Jennifer […]
The United States Strategic Petroleum Reserve has fallen to its lowest inventory level seen since 1985 under the stewardship of President Joe Biden and his Democrat-controlled Congress. Repeated withdrawals from the reserve have been leveraged […]
While oil and gas prices may continue to weaken in the near term, by the time winter sets in, the market is going to become extremely tight and the per-barrel price of oil should return […]
America’s oil inventories are hovering around multi-year lows despite releases from the SPR. Distillate fuel oil inventories, which are most closely related to the economic cycle, are at the lowest for the time of year […]
The Biden administration in the United States has reportedly sold over a million barrels of oil from the Strategic Petroleum Reserve to a Chinese state-owned company that had received a $1.7 billion investment from BHR Partners, one […]
HOUSTON, July 5 (Reuters) – More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia […]
HOUSTON, June 27 (Reuters) – U.S. crude inventory in the Strategic Petroleum Reserve (SPR) fell by 6.9 million barrels in the week to June 24, according to data from the Department of Energy. Stockpiles in […]
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