10 million bbls were added in 2025. Only 67 million bbls (<10% of capacity) have been added since the 7/7/2023 nadir. Unsurprisingly, It’s easier to deplete strategic national assets than replace them.
Posts Tagged ‘depletion’
Modest progress in refilling the Strategic Petroleum Reserve
Posted in energy policy, tagged depletion, energy policy, refill, slow progress, Strategic Petroleum Reserve on January 16, 2026| 1 Comment »
(Politically) Strategic Petroleum Reserve
Posted in energy policy, tagged depletion, dubious milestones, energy security, SPR, Strategic Petroleum Reserve on August 26, 2022| Leave a Comment »
The SPR withdrawals are scheduled to end just prior to the mid-term elections. What happens if oil markets tighten further, perhaps with OPEC assistance?
Remember that the SPR was intended to diminish the vulnerability of the United States to the effects of a severe energy supply interruption!
Updated SPR “milestones”
- Largest-ever one year decline – 168.2 million bbl or 24.4% (8/13/2020 to 8/19/2022)
- 37.7% decline since 2010
- 72 consecutive weeks of decline – 4/9/2021 to 8/19/2022
- 47 million bbls below the important 500 million barrel threshold which had never before been breached on the downside
- Lowest inventory since 1/11/1985
New “milestones” for the Strategic Petroleum Reserve
Posted in energy policy, tagged depletion, milestones, Strategic Petroleum Reserve on August 8, 2022| Leave a Comment »
- Largest-ever one year decline – 151.4 million bbl or 24.4% (see table below)
- 35.3% decline since 2010 (see chart below)
- 69 consecutive weeks of decline – 4/9/2021 to 7/29/2022
- For the first time, broke the 500 million barrel threshold (on the downside): 6/24/2022
- Lowest inventory since 5/17/1985 when the reserve was still being filled
| 7/30/2021 | 621.3 million bbls |
| 7/29/2022 | 469.9 million bbls |
Bud's Offshore Energy (BOE) 