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U.S. Strategic Petroleum Reserve Falls to Lowest Level Since 1982

182 points · 234 comments · thelastgallon

  1. drTobiasFunke · · focus · HN ↗
    Thos year’s drop is terrible, but we know the reason. Anybody know why the big drop in 2021-22?
    1. nl · · focus · HN ↗
      The Biden administration (and other countries around the world in the International Energy Agency) released reserves to try to stabilize the spikes in prices due to the Russian invasion of Ukraine.

      > On March 1, 2022, Secretary Granholm announced that the U.S. and its partners in the International Energy Agency (IEA) would release a total of 60 million barrels of oil onto the world market. [snip] In total, DOE released 180 million barrels of crude oil into the market.

      <a href="https:&#x2F;&#x2F;www.energy.gov&#x2F;hgeo&#x2F;opr&#x2F;history-spr-releases" rel="nofollow">https:&#x2F;&#x2F;www.energy.gov&#x2F;hgeo&#x2F;opr&#x2F;history-spr-releases (look at 2022 IEA Coordinate Release)

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