The SPR was built to alleviate domestic supply shortages. In May 2022, the Department of Energy did release a purchase plan to refill the SPR, but it only accounted for about 60 million barrels ...

The rise in crude oil stocks continues amid refinery maintenance season, but oil products continue to see inventory draws ...

According to Blas, the DoE isn’t considering tapping the SPR “at this time”. The news comes shortly after Goldman Sachs estimated that if the DoE released oil from the SPR, it would likely ...