“Is there anything left in our SPR?”
US Crude Oil in the Strategic Petroleum Reserve Stocks is at a current level of 351.27M, unchanged from 351.27M last week and down from 392.12M one year ago.
From DOE, 10/19/2023: “Today, the U.S. Department of Energy’s (DOE) Office of Petroleum Reserve announced that that it will post monthly solicitations to purchase oil for the Strategic Petroleum Reserve (SPR) through at least May 2024, beginning with a solicitation for up to 6 million barrels of oil for delivery in December 2023 and January 2024. DOE will purchase oil in those months where it can do so at a good deal for taxpayers: a price of $79 dollars per barrel or below, far less than the average $95 per barrel DOE received for 2022 emergency SPR sales.”
Still, that’s way under historic levels.