You Searched For "strategic petroleum reserve" and got 20 results
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2 mins read
The Strategic Petroleum Reserve 'would be harder to use,' and the only buffer for oil markets is Middle East production, energy expert says
The Strategic Petroleum Reserve currently sits at 40-year lows at 351 million barrels, according to…
Aruni Soni
1 min read
The US is refilling strategic oil reserves as fast as it can amid lower prices, but there are physical limits, Energy Department official says
"We are refilling as much as we can. We've been doing that for the last several months. And at this…
Aruni Soni
1 min read
More oil releases from the US Strategic Petroleum Reserve won't 'rock the boat', says UAE's energy minister
Ensuring global energy markets are balanced is more of a concern to Suhail Al Mazrouei, who told Bl…
Brian Evans
2 mins read
Here's why tapping the US oil reserve has led to America increasing crude exports - and why even more US energy supplies could be shipped overseas
"But the unintended consequence of federal intervention is that more barrels than ever before are b…
Phil Rosen
1 min read
The US made $4 billion selling oil this year on President Biden's unprecedented releases from the Strategic Petroleum Reserve
Sales from the Strategic Petroleum Reserve total 180 million barrels at an average of $96.25 per ba…
Phil Rosen
1 min read
Politically created crude oil surplus is already ending says Goldman Sachs
Fundamentals for crude oil weakened in April-May with modest declines in the Russian exports, recor…
2 mins read
Oil could be capped at $120 per barrel this summer as release of global reserves keeps a lid on prices, Bank of America says
China's lockdown of Shanghai and other areas during a new COVID-19 outbreak should also temporarily…
Carla Mozée
3 mins read
The US decision to release 180 million barrels of oil will help offset the loss of Russian supply and keep prices steady, JPMorgan says
The Energy Department will likely miss its target of releasing 1 million barrels of oil a day, but …
Carla Mozée
3 mins read
Biden's latest plan to try to bring gas prices down: Releasing 1 million barrels of oil a day from the government's stockpile for 6 months
The release could lower prices by "10 cents to 35 cents a gallon," President Biden said Thursday, a…
Ben Winck
2 mins read
Biden announces that the US and 30 other countries will release 60 million barrels of oil to cool surging prices
The move comes as US gas prices sit at 8-year highs and sanctions against Russia raise concerns abo…
Ben Winck
2 mins read
Oil prices could find a floor near $80 per barrel as Biden administration considers refilling the Strategic Petroleum Reserve
The potential move by the Biden administration is seen as protecting US oil-production growth by pr…
Matthew Fox
3 mins read
4 things Biden can do to tame COVID and inflation right now, according to former Fed economist
Biden's spending plans will do much good, but Americans need faster results on the virus and inflat…
Ben Winck
3 mins read
India to release 5 million barrels of crude oil from strategic reserves on US request
This is the first time ever that India, which stores 5.33 million tonnes or about 38 million bar…
PTI
3 mins read
India uses low crude prices to stockpile 32 million tonnes of oil
India is the world's third-biggest oil importer and is reliant on foreign nations to meet 85 per ce…
PTI
2 mins read
Oil prices slide as the US says it will sell millions more barrels of oil from its strategic reserve into the global market
WTI oil prices fell below $80 a barrel. The US plans to sell sweet crude from two storage sites sta…
Carla Mozée
1 min read
Here's how much oil the US is buying to refill the depleted emergency reserve
The Energy Department issued a solicitation for 3 million barrels of oil for March 2024, as emergen…
Filip De Mott
2 mins read
Exempt from tax: Foreign companies storing oil in India's 'strategic reserves'
According to a budget 2020-21 document, the income of ISPRL will be exempt from taxes on the tr…
PTI
1 min read
The oil market is worried Biden could release another 100 million barrels of crude from strategic reserves, analyst says
The SPR is "absolutely being used to keep prices lower even though that's not what it's meant to be…
Brian Evans
2 mins read
US strategic oil reserves have hit their lowest level since 1985 after Joe Biden's record sales
Stockpiles have fallen by more than 160 million barrels this year after the White House ordered the…
Harry Robertson
2 mins read
Oil prices plummet 4% as the US weighs up largest-ever release from its strategic reserves
Crude oil headed for an 11% weekly loss after reports the US may release as much as 180 million bar…