Article

2021-11-13 Economy

USA Already Exporting Oil from SPR at Record Pace

[RigZone] About 1.6 million barrels of crude from the U.S. Strategic Petroleum Reserve, a monthly record, was shipped out in October, according to data from market intelligence firm Kpler.

If the Biden Administration decides to tap U.S. emergency crude reserves to push down domestic energy prices, it may not help all that much. The supplies may just be exported away like last month.

About 1.6 million barrels of crude from the U.S. Strategic Petroleum Reserve -- a monthly record -- was shipped out in October, according to data from market intelligence firm Kpler. Three cargoes were loaded onto a supertanker in the U.S. Gulf Coast and are headed to Asia.

"Given the ongoing pace of the current SPR release -- 12 million barrels in the last two months and the biggest weekly release so far last week at 3.1 million barrels -- it’s fair to assume more SPR barrels are going to leave U.S. shores in the weeks ahead," said Matt Smith, an oil analyst at Kpler.

The White House has been mulling a range of options to ease soaring pump prices and Democrats are pressing for a potential ban on oil exports as well as the release of crude from the nation’s strategic reserves.
Bitter comments typed and deleted.

Posted by Thing From Snowy Mountain 2021-11-13 10:36|| || Front Page|| [10 views ] Top
File under: Tin Hat Dictators, Presidents for Life,

#1 gotta drain that thing before we really need it, all part of the "plan", nothing to see here......move along folks......

Posted by 746 2021-11-13 20:15|| 2021-11-13 20:15|| Front Page Top

#2 Pres. Trump ordered the SPR filled to max when oil prices were in the $30s. Now the Grasshopper like Dems profit on what better men built.

Posted by Sneaque Flenter9480 2021-11-13 22:23|| 2021-11-13 22:23|| Front Page Top

11:28 M. Murcek
10:58 Bobby
10:52 Bobby
10:38 Grom the Reflective
10:33 Grom the Reflective
10:23 Vinegar+Spolusing6485
10:19 AlmostAnonymous5839
10:13 AlmostAnonymous5839
10:11 AlmostAnonymous5839
09:51 DarthVader
09:50 Besoeker
09:43 Crusader
09:41 MikeKozlowski
09:18 ed in texas
09:16 ed in texas
09:15 ed in texas
09:12 ed in texas
09:08 ed in texas
09:07 ed in texas
09:04 ed in texas
09:02 Whiskey Mike
08:45 Besoeker
08:34 Skidmark
08:32 MikeKozlowski