- Reserve down to 372.4 million bbls as of 12/30/2022
- 222 million bbl decline (37.4%) in 2022
- Lowest volume since 12/2/1983
- Reserve is now depleted by nearly 1/2 (49%) from its capacity of 727 million bbls
Posts Tagged ‘Strategic Petroleum Reserve’
Final Strategic Petroleum Reserve inventory for 2022
Posted in energy policy, tagged SPR depletion, Strategic Petroleum Reserve on January 3, 2023| Leave a Comment »
Was this our Christmas present?
Posted in energy policy, tagged Christmas present, SPR depletion, Strategic Petroleum Reserve on December 29, 2022| Leave a Comment »
More “free” oil was withdrawn from the SPR, which has sunk to the lowest level (375.1 million bbls) since Christmas 1983. More rational oil and gas leasing policies would have been a far better gift, particularly for our children and grandchildren.
The “pilot” refill program is scheduled to begin in February. We’ll see how that goes.
On 12/16/2022, the SPR fell to 378.6 million bbls, the lowest volume since 1983. This is the same day DOE announced the pilot replacement program.
Posted in energy policy, tagged pilot refill program, SPR depletion, Strategic Petroleum Reserve on December 21, 2022| Leave a Comment »
In October, the President announced a plan to replenish the SPR using updated authorities that allow for fixed-price purchases of crude oil. Relative to conventional purchase contracts that expose producers to volatile crude prices, this new approach, when used at scale, can give producers the assurance to make investments today, knowing that the price they receive when they sell to the SPR will be locked in place. Today’s notice will pilot this new approach by starting with a purchase of up to 3 million barrels of crude oil.
DOE
Note that these pilot deliveries will not begin until Feb. 2023 and will total < 3 million barrels. The reserve is 349 million bbls below capacity, and 216 million bbls have been withdrawn this year.
SPR decline continues; 382.271 million bbls in reserve as of 12/9/2022
Posted in energy policy, tagged SPR depletion, Strategic Petroleum Reserve on December 16, 2022| Leave a Comment »
- down another 4.7 million bbs from the previous week (12/2/2022)
- lowest reserve volume since 1/6/1984
- 212 million bbls withdrawn this year
- EIA data
Strategic Petroleum Reserve withdrawals continue
Posted in energy policy, tagged SPR depletion, Strategic Petroleum Reserve on December 9, 2022| Leave a Comment »
Down to 387 million bbls as of 12/2. Lowest SPR volume since 2/24/1984. 206 million bbls withdrawn in 2022. With WTI near $72/bbl, is this finally the end of the withdrawals?
SPR declines to 389.1 million bbls (11/25/2022) as OPEC+ considers further cuts
Posted in energy policy, tagged OPEC+, SPR depletion, Strategic Petroleum Reserve on December 2, 2022| Leave a Comment »
The reserve is at its lowest level since 3/16/1984, and is now 46.5% below capacity.
SPR declines to 390.5 million bbls (11/18/2022). When does it end?
Posted in energy policy, tagged SPR depletion, Strategic Petroleum Reserve on November 22, 2022| 1 Comment »
SPR decline continues – down to 392.2 million bbls as of 11/11/2022
Posted in energy policy, tagged SPR depletion, Strategic Petroleum Reserve on November 16, 2022| Leave a Comment »
SPR update: down to 396.2 million bbls as of 11/4/2022
Posted in energy policy, tagged SPR depletion, Strategic Petroleum Reserve on November 9, 2022| Leave a Comment »
Strategic Petroleum Reserve falls below 400 million barrels (as of 10/28/2022)
Posted in energy policy, tagged SPR, SPR depletion, Strategic Petroleum Reserve on November 1, 2022| Leave a Comment »
For the first time since May 18, 1984, when the SPR was being filled, the reserve has fallen below 400 million barrels.
Bud's Offshore Energy (BOE) 