Depleted strategic oil reserve nears level that raises concerns about damage to caverns, operations - CNBC
Depleted strategic oil reserve nears level that raises concerns about damage to caverns, operations - CNBC
Source: CNBC
―
DW NOTE
The SPR now sits at whatever level the headline won't name, but low enough that the caverns themselves — carved salt domes that require minimum pressure to avoid structural collapse — are at risk. The US drained 180 million barrels in 2022 to cap gasoline prices before midterms, then drained more during a 123-day Hormuz closure that cut global supply by 4.3 million barrels per day. It never refilled. Now the physical infrastructure that makes the reserve possible is endangered by the policy that emptied it.