The Biden Administration has only returned about 14 million barrels to the SPR after a significant drawdown, with recent cancellations of refill plans. Rising oil prices have led the DOE to cancel ...

The SPR began to be filled during President Carter's term, with President Reagan making significant contributions and leading the SPR level to reach 560 million barrels by the end of his two terms.

The Department of Energy (DOE) is planning to purchase 1 million barrels of oil to help restock the U.S. Strategic Petroleum Reserve (SPR) after the Biden administration drained the reserve and once ...

U.S. SPR oil release aims to ease Iran war supply pressures; see inventory levels, WTI/Brent spread moves, and what the ...

Hints of the setting sun highlight a pumpjack crude oil battery Tuesday, July 5, 2022 in Midland, Texas. (Odessa American/Eli Hartman) The Biden Administration’s drawdown of the Strategic Petroleum ...

The U.S. released 1.5 million barrels from the Strategic Petroleum Reserve last week, as the Trump administration moves forward with a plan to tap the stockpile to help address supply and price ...

Tensions in the Middle East following U.S.-Israeli strikes in Iran have disrupted global oil and gas supplies and pushed up prices. This has raised questions about the amount of oil reserves the ...

The U.S. Strategic Petroleum Reserve (SPR) was established in December 1975 in the wake of the 1973 OPEC oil embargo. The law establishing the SPR said it was designed “to reduce the impact of severe ...