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Emergency Oil Stockpiles Fall at Record Clip as Biden Mulls Refill

  • US releases most SPR crude in weekly data going back to 1982
  • White House indicated it would consider refilling at $80 oil
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Oil Prices Will Go Back to $125 a Barrel: Gordon

Emergency crude stockpiles fell at a record pace as the Biden Administration shapes a plan to refill the nation’s strategic petroleum reserves. 

Crude inventories at government storage caverns declined by 8.414 million the week ending September 9, the largest release in data going back to 1982, according to the Energy Information Administration. At 434 million barrels, the reserves are the lowest since 1984.