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Last updateFri, 19 Oct 2018 1pm

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End-User News

U.S. Oil Reserve Poised to Fall by Nearly Half

“The U.S. is poised to sell half of its emergency oil reserves to help pay its bills, something critics say defies the reason the stockpile was created decades ago as a hedge against supply disruptions,” Bloomberg  reports.

“The spending deal that passed both houses of Congress and was sent to the White House early Friday calls for selling 100 MMbbl from the Strategic Petroleum Reserve by 2027. Combined with other sales approved last year, that would mean the volume of oil in the reserve would fall by 45%, to about 303 MMbbl.” 

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