Post Tagged with: "SPR"

Source: Jacob Ford, MBI / Associated Press

Are Congressional oil sales risking an oil price spike?

Source: Houston Chronicle


WASHINGTON – Plans to shrink the U.S. Strategic Petroleum Reserve by 40 percent over the next eight years risks a spike in global energy prices, a top official at the International Energy Agency warned the Senate Thursday.…

U.S. Won’t Use Petroleum Reserve to Reduce Oil Prices: Perry

U.S. Won’t Use Petroleum Reserve to Reduce Oil Prices: Perry

From Houston Chronicle/Bloomberg

The U.S. has no plans to tap the nation’s emergency oil stockpile to offset supply losses from Iran, according to U.S. Energy Secretary Rick Perry.

Selling oil from the Strategic Petroleum Reserve would have “a fairly minor …

September 27, 2018 - 11:48 am Closing Bell Story‎, Energy News
Image: Oil & Gas 360

100 Million Barrels of Strategic Oil Reserves to be Sold

Recent U.S. legislation has directed the sale of more than 100 million barrels of oil from the Strategic Petroleum Reserve (SPR) in government fiscal years 2022 through 2027.

Based on legislated sales established in multiple acts of Congress, the SPR …

February 26, 2018 - 2:05 pm Closing Bell Story‎, Finance, Law, Oil and Gas 360 Articles
Yuan Down, Part 2: Changes to How China Handles its Oil Reserves

Yuan Down, Part 2: Changes to How China Handles its Oil Reserves

At Today’s Lower Prices China is Adding 70-90 MMBoe to SPR with Strategic Crude Oil Purchases

Simultaneously to the Peoples Bank of China intentionally depreciating the Yuan last week, China’s National Energy Administration announced on May 31, 2016 that the …

Source: Sweetcrudereport.com

U.S. Looks to Sell 174 Million Barrels from the SPR between 2017-2025

Recently enacted laws call for the sale of SPR oil to reduce the budget deficit and fund new infrastructure projects

The Strategic Petroleum Reserve (SPR) is a U.S. Government complex of four sites with deep underground storage caverns created in …

December 9, 2015 - 5:45 pm Closing Bell Story‎, Oil and Gas 360 Articles