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HomeStrategic Oil Reserve

Strategic Oil Reserve

Crude Oil News

WTI Rebounds After Crude/Product Draws; Biden Admin Drains SPR for 14th Straight Week

July 6, 2023 Mariel Alumit

Oil prices are down this morning after the ‘good news is bad news’ data from the US offsetts additional production-cut announcements this week from OPEC-plus members Saudi Arabia and Russia. Crude remains about 10% lower […]

Crude Oil News

US Could Buy Back Oil for Strategic Reserve Late This Year

March 29, 2023 Mariel Alumit

​ Reuters U.S. Secretary of Energy Jennifer Granholm delivers a speech ahead of a conversation with Daniel Yergin, the vice chairman of S&P Global, during the CERAWeek energy conference in Houston, Texas, U.S., March 8, […]

Crude Oil News

As We Sell Off Our Strategic Oil Reserves, Ponder This

March 25, 2023 Mariel Alumit

Authored by Bruce Wilds via Advancing Time blog, One of Biden’s answers to combating higher gas prices has been to tap into America’s oil reserves. While I was never a fan of the U.S. Strategic […]

Shrinking Oil
Crude Oil News

How Big A Problem Is America’s Shrinking Oil Reserve?

September 23, 2022 Mariel Alumit

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 […]

Is $100 Oil Sustainable?
Crude Oil News

Is $100 Oil Sustainable?

April 13, 2022 Mariel Alumit

There are a number of factors that have pushed oil prices into the stratosphere, but the rally may be becoming unsustainable. Russia’s war in Ukraine has created a particularly tight oil market, and it could […]

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