“Davidson” submits:The Dept of Energy claimed late last week that it had fully replenished the SPR. The announcement states through illogical reasoning that canceling previously-mandated sales equates to actual replenishment. The actual EIA data shows less than 30mil BBL have been added from the 346mil BBL low to last week’s 375mil BBL level. The actual draw down was ~291mil BBL not the 180mil BBL stated. Please refer to the history shown in Total US Crude Inv & Strategic Petroleum Reserve.
“On top of the 140 million barrels of oil secured by working with Congress to cancel previously-mandated sales, this brings the total purchased or kept in the SPR since 2022 to 180 million barrels – the full amount sold following the unprecedented Russian war against Ukraine.”
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