The U.S. strategic petroleum reserve could drop by 304 million barrels over the next 10 years according to the EIA The reason for this fall is a combination of recent legislation and the decision by Biden last week to release 50 million barrels Several infrastructure bills have already committed to SPR releases towards the end of the decade Recent legislation and last week’s announcement of a release of 50 million barrels of crude oil from the U.S. Strategic Petroleum Reserve (SPR) could see America’s strategic stockpiles drop to around 314 million barrels by the start of the 2032 fiscal year, from 618 million barrels as of early October 2021, the Energy Information Administration (EIA) said on Monday. If strategic crude oil stockpiles nearly halve over the next decade, they would stand in 2032 at their lowest level since March 1983, the administration noted. U.S. President Joe Biden said last […]