Energy

Depleted US oil stash loses potency as Iran war grinds on - Reuters

Source: Reuters

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DW NOTE

The SPR has fallen to 330 million barrels from 650 million pre-2022. Washington drained half the strategic reserve to suppress inflation in an election year, then kept draining it to cover foreign wars. Now the Strait is closed, supply is down 4.3 million barrels per day, and the emergency stash is empty before the emergency arrived.

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Kuwait’s crude oil exports have rebounded to about 1 million barrels per day (bpd), recovering to two-thirds of the 1.6 million bpd shipped through the Strait of Hormuz before the Iran war, according to a senior official at state-owned Kuwait Petroleum Corporation (KPC). Kuwait has managed to ramp u

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Depleted US oil stash loses potency as Iran war grinds on - Reuters

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