EIA: SPR Drawdown Deepens to 44-Year Low


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. Strategic Petroleum Reserve (SPR) inventories 
posted their largest weekly decline since late August during the week ended 
November 6, pushing emergency crude stocks to their lowest level since October 
1982, according to Energy Information Administration (EIA) data released 
Thursday (11/12).

   SPR inventories declined by 2.6 million bbl to 279.5 million bbl from 282.2 
million bbl the previous week, marking the largest weekly withdrawal since 
August 28, when stocks fell by approximately 3.1 million bbl.

   The latest decline was substantially larger than the roughly 400,000 bbl 
draw reported for the week ended October 30, extending the reserve's inventory 
low to a level not recorded in more than four decades.

   Emergency crude stocks were 130.9 million bbl, or 31.9%, below the 410.4 
million bbl reported during the corresponding week of 2025.

   The continued drawdown comes amid the Department of Energy's (DOE) crude oil 
exchange program, following its October 29 announcement of awards covering more 
than 40 million bbl of SPR crude oil.

   Under the exchange arrangements, DOE said participating companies are 
expected to return more than 216 million bbl to the reserve beginning in early 
2027, including approximately 44 million additional barrels. The latest awarded 
crude will be supplied from the Big Hill and Bryan Mound storage sites along 
the Gulf Coast.

    




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