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Category Archives: Strategic Petroleum Reserve

Why OPEC Should Fear The Trump Administration

Submitted by Emad Mostaque via GovernmentsAndMarkets.com, Oil prices have risen over 20% since the OPEC production cut agreement at the end of November. While concerns abound on quota cheating and increased production from Libya, Nigeria and US shale, the incoming US administration could change the market completely through strategic oil sales and new import taxes. […]

US To Sell 8 Million Barrels Of Oil From The Strategic Petroleum Reserve

Two weeks ago we previewed that the U.S. Department of Energy could begin to sell off some of its strategic petroleum reserve (SPR) as soon as January, the beginning of a multi-year process to shrink the nation’s stockpile of oil. Congress has authorized DOE to sell off $375.4 million worth of oil in its recent […]

Oil Slides After Bigger Than Expected Inventory Build

Oil prices were back to unchanged ahead of DOE data, after falling on last night's surprise API inventory build. Prices jumped higher however as DOE reported a much smaller build than API (+614k vs +4.2mm), though admittedly a build (expectations were for a draw). Cushing built for the 4th week of the last 5 but […]

U.S. Prepares To Sell Off Its Oil Reserves

Submitted by Nick Cunningham via OilPrice.com, The U.S. is beginning to wind down one of the core energy security policies of the past half century as the boom in domestic drilling eases concerns about supply. (Click to enlarge)   The U.S. Department of Energy could begin to sell off some of its strategic petroleum reserve […]