President Joe Biden will move ahead with the sale of 26 million barrels of oil from the U.S. Strategic Petroleum Reserve (SPR) after draining more than 180 million barrels from America’s emergency backup supply in 2022. Already, SPR levels are at their lowest since the 1980s.
According to the Department of Energy, the SPR held 371,579,000 barrels of oil as of February 3, the smallest amount since November 1983. US Strategic Petroleum Reserve (SPR) lowest since November 1983. Biden administration will drain 26 million barrels more from the SPR.
The daily consumption is roughly 20 million barrels per […]
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