Standard Chartered Reports Record U.S. SPR Withdrawals Are Reducing Strategic Petroleum Reserves
Record withdrawals from the U.S. Strategic Petroleum Reserve (SPR) are tightening oil buffers as part of a global emergency response to rising tensions, according to Standard Chartered analysts. The latest data shows inventories fell by 9.9 million barrels in one week, bringing total reserves down to 374 million barrels and nearing operational stress limits.
Topics: commodity analysis international energy agency oil prices strategic petroleum reserve