Huh? Since 9/1/2023, the SPR has increased from 350.34 million bbls to 351.9 million bbs, a total of only 1.56 million bbls. From the historic low of 346.76 bbls on 7/7/2023, the SPR has increased by just 5.14 million bbls, and remains at only 48% full. The total refill since the 2023 low amounts to only 0.7% of capacity.
DOE knew that refilling the SPR would be a very slow process given the significant acquisition, operational, and maintenance challenges. Nonetheless, political concerns about oil prices were prioritized and the reserve was recklessly depleted.
Prediction: The SPR will still be <400 million bbls at the end of 2024.
Bud's Offshore Energy (BOE) 
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