When he launched his presidential campaign in late 2022, then-candidate Donald Trump blasted his successor for aggressively releasing oil from America’s emergency stockpile ahead of the midterm elections.
President Trump is draining the Strategic Petroleum Reserve faster than Biden did, with emergency oil stockpiles approaching 1980s levels.
The United States has become the supplier of last resort, exporting about half its emergency crude to Asia and Europe.
Oil inventories at Cushing, Oklahoma, are nearing operationally low levels as the Iran war crisis continues.
AI-generated summary was reviewed by a CNN editor.
New York —
America's Strategic Petroleum Reserve (SPR) is shrinking quickly, following record-setting releases initiated to curb gasoline…
Crude inventories in the Strategic Petroleum Reserve fell by 9.1 million bbl last week as the Trump administration continues its…
America's emergency oil reserve is shrinking at a record pace. Find out why the SPR buffer is disappearing as oil tops $100.
By Claudia Assis and Myra P. Saefong
By Claudia Assis and Myra P. Saefong
The U.S. currently has 415 million barrels of oil in its strategic reserve, about 58% of the authorized capacity of 714 million…
