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clashmoore | 4 years ago

When I look at the SPR weekly levels at https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W... it doesn't show an increase of 77M barrels. During President Trump's term it fell from 695,118,000 (Jan 22 2016) barrels to 638,085,000 barrels (Jan 15th 2021)

In March of 2020 it went from 634,967,000 to a peak of 656,147,000 in July of 2020, to then fall back.

Unless I did my math incorrectly, where can we find the information about the 77M?

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lenkite|4 years ago

The drop in Jan 2017 was due to Hurricane Harvey which disrupted foreign crude deliveries. https://www.mercurynews.com/2017/08/31/us-taps-strategic-oil...

You are right that it wasn't 77M barrels in 2020 - my bad. I didn't realise that Democrats had blocked funding for that proposed initiative of SPR increase. The Trump administration worked around this by reducing this to ~30 million barrels and awarding storage contracts. This appears to match your figures.

https://www.bloomberg.com/news/articles/2021-06-25/trump-s-t...

https://www.bloomberg.com/news/articles/2020-03-25/funding-t...