US Emergency Oil Reserves Fall to 25 Days as Biden Releases More Crude Into Market

Contact Your Elected Officials
The Epoch Times Header

U.S. President Joe Bidenโ€™s efforts to lower energy prices have reduced the nationโ€™s emergency oil reserves, new data show.

According to the Department of Energy, inventories in the Strategic Petroleum Reserve (SPR) declined by 6.9 million barrels in the week ending on June 24. Federal government data show that 6 million barrels of sour crude and nearly 1 million barrels of sweet crude were injected into the energy market during this span.

In total, the worldโ€™s largest emergency supply of crude oil stood at 497.9 million barrels, its lowest level since April 1986.

With the U.S. consuming close to 20 million barrels per day, based on the Energy Information Administrationโ€™s (EIA) 2021 estimate, the country still maintains a 25 days supply.

At this rate, the SPR will shrink to its lowest level in 40 years by the fall, as its supply is dwindling faster than the output of some medium-sized countries that are a part of the Organization of the Petroleum Exporting Countries (OPEC), including Algeria and Angola.

The petroleum reserve was established in 1975 following the 1973โ€“1974 oil embargo. The U.S. government wanted to prevent future supply disruptions, so it initiated the worldโ€™s largest known emergency supply, with underground tanks being located in Louisiana and Texas.

Tapping Into Stockpiles

According to the Energy Policy and Conservation Act, the president has the authority to order crude releases from the reserve if he declares โ€œa severe energy supply interruptionโ€ that could threaten the economy or national security.

Some lawmakers have proposed restricting releases unless Congress approves legislation or a joint resolution.

The White House has been tapping into these stockpiles to help stabilize the global energy market and bring down oil prices. In November, Biden released 50 million barrels of crude from the reserves. Two months later, the administration authorized the release of more than 13 million barrels.

Byย Andrew Moran

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Liberal Democrat Content Creators are Despicable Defamationers

What should Christian conservatives do when confronted with false information to the point of bearing false witness against someone like President Trump?

Ben Shapiro Warning Me Not to Listen to InfoWars Makes Me Want to Listen 10x Harder

This rant from Ben Shapiro reveals more about him and his low opinion of his audience to whom he peddles his slop than it does about its target, Alex Jones.

Epsteinโ€™s Aftermath: Planes, Blames, and Autocrats

There are so many real, honest great journalists reporting the news on the internet these days that some really good content gets overlooked.

Why the Trump Administration is Sitting on the Epstein Files

President Trump, AG Bondi, and FBI Dir. Patel have the advantage over us in that they see the big overall picture when it comes to the Epstein List.

Trumpโ€™s โ€œMajor Statementโ€ On Russia Is A Clumsy Attempt To Thread The Needle

The โ€œmajor statementโ€ on Russia Trump hyped up turned out to be an attempt to thread the needle between escalating US involvement in Ukrainian and walking away from it.

Border Czar Says Physical Appearance โ€˜Canโ€™t Be the Sole Reasonโ€™ to Detain Someone

Border czar Homan said comments were โ€œtaken out of contextโ€ and federal immigration enforcement agents can't detain people based on physical appearances alone.

Capacity of US Coal-Fired Power Plants to Fall Over 15 Percent by 2028

Total operating capacity of coal-fired power plants in US is set to drop to 145 GW by end of 2028, a 15% decline from the 172 GW in operation as of May.

Violence Against ICE Escalates Across America

ICE officers face increased confrontation on the street, which crosses the line between free speech and physical violence.

International Buyers Purchased $56 Billion Worth of US Homes in 1 Year

Foreign buyers purchased $56 billion worth of existing homes in the US between April 2024 and March 2025, up by 33.2% from the previous 12 months.

Washington Announces Investigation Into Brazilian Trade Practices, Digital Payment Services

U.S. Trade Representative Jamieson Greer announced the opening of an investigation into Brazilโ€™s โ€œunfairโ€ trading practices on July 15, 2025.

Pharma Imports Could Face Tariffs by End of the Month, Trump Says

US will institute tariffs on pharmaceutical imports โ€œprobably at the end of the month,โ€ President Trump told reporters at Joint Base Andrews.

RFK Jr. Fires Top Aides, Appoints New Acting Chief of Staff

Health Secretary Robert F. Kennedy Jr. has fired several top advisers, the Department of Health and Human Services (HHS) confirmed on July 16.

Trump Says He Will Impose Tariffs of More Than 10 Percent on Smaller Nations

President Donald Trump said on Tuesday that he intends to impose tariff rates of more than 10 percent on imports from โ€œsmaller nations.โ€
spot_img

Related Articles