SPR “Milestones” update:
- Largest-ever one year SPR decline – 208 million bbls or 33.7% (10/8/2021 to 10/7/2022)
- 43.7% decline since 2010
- 79 consecutive weeks of decline – 4/9/2021 to 10/7/2022
- Lowest inventory since 6/15/1984
Don’t forget that in the spring of 2020 the previous administration proposed to refill the SPR to maximum capacity of 727 million barrels at $24 per barrel, but Congress failed to authorize the purchase.
Bud's Offshore Energy (BOE) 