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Strategic Petroleum Reserve (United States) The Strategic Petroleum Reserve (SPR) is an emergency stockpile of petroleum maintained by the United States Department of Energy (DOE). It is the largest publicly known emergency supply in the world; its underground tanks in Louisiana and Texas have capacity for 714 million barrels (113,500,000 m 3). [1]
Strategic reserves are intended to be used to cover short-term supply disruptions. In 2004, approximately 4.1 billion barrels (650,000,000 m 3) of oil was held in strategic reserves by International Energy Agency member states, of which 1.4 billion is government-controlled and the remainder held by private industry. [1]
The reserve currently holds 380 million barrels, most of which is sour crude, or oil that many U.S. refineries are engineered to process. The most it has held was nearly 727 million barrels in 2009.
The United States maintains a Strategic Petroleum Reserve at four sites on the Gulf of Mexico, with a total capacity of 727 million barrels (115.6 × 10 ^ 6 m 3) of crude oil. The maximum total withdrawal capability from the United States Strategic Petroleum Reserve is 4.4 million barrels (700,000 m 3) per day. This is roughly 32% of US oil ...
President Joe Biden plans to release 15 million barrels of oil or more from the U.S. strategic reserves in an effort to stop gasoline prices from rising now that OPEC and its allies plan to cut ...
President Joe Biden’s Administration has presided over an unprecedented drainage of oil from America’s Strategic Petroleum Reserve (SPR) following Russia’s invasion of Ukraine. As of Sept ...
Running low: US strategic oil reserve reaches lowest level in decades. Joe St. George. November 1, 2023 at 10:33 AM. Pumpjacks extract oil. There are always a lot of stories about the price of ...
Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to