EIA: SPR Near 44-Year Low as DOE Completes Awards


   EIA: SPR Near 44-Year Low as DOE Completes Awards

   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. Strategic Petroleum Reserve (SPR) crude oil 
inventories fell by 399,000 bbl during the week ended October 30, remaining 
near levels last recorded in 1982 as the Department of Energy (DOE) completed 
contract awards under its 172 million bbl crude oil exchange program.

   SPR inventories declined to approximately 282.2 million bbl from 282.6 
million bbl the previous week, extending withdrawals from the nation's 
emergency stockpile, according to Energy Information Administration (EIA) data 
released Wednesday (11/4).

   Reserve supplies were approximately 127.4 million bbl below the 409.6 
million bbl reported during the comparable week of 2025, reflecting withdrawals 
associated with the government's emergency crude oil release program.

   DOE announced Thursday (10/29) that it had awarded contracts covering more 
than 40 million bbl of crude oil exchanges, completing the United States' 
commitment to release 172 million bbl as part of a coordinated 400 million bbl 
emergency action by International Energy Agency member nations.

   According to DOE, the exchange agreements provide for the return of more 
than 216 million bbl beginning in early 2027, including approximately 44 
million additional premium barrels. Crude oil under the latest awards will be 
supplied from the SPR's Big Hill and Bryan Mound storage sites.

   Meanwhile, U.S. commercial crude oil inventories, excluding the SPR, 
declined by approximately 900,000 bbl to 409.8 million bbl during the week 
ended October 30, marking a fifth consecutive weekly draw. Commercial supplies 
were 11.4 million bbl below the 421.2 million bbl reported during the 
comparable week of 2025.




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