04 Dec, 23

Is This The Technical Limit for Refilling the Strategic Petroleum Reserve?

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With oil prices continuing to extend declines, dropping 2% last week and continuing to fall on Monday, the prime time for the U.S. refill the Strategic Petroleum Reserve (SPR) is limited by constraints on the Gulf Coast underground caverns.  Speaking to Bloomberg on Monday, Deputy Energy Secretary David Turk said physical constraints and maintenance on the network of underground caverns on the U.S. Gulf Coast mean the government can only purchase three million barrels per month right now.  “We are refilling as much as…

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