- The rapid drawdown of the U.S. Strategic Petroleum Reserve could damage the caverns that store the oil, experts warn.
- The SPR has tumbled below 300 million barrels for the first time since it was filled in the early 1980s, according to federal data released this week.
- The SPR faces elevated risks to its operations and cavern integrity as inventories continue to drop.
The caverns that hold the U.S. strategic oil reserves could get damaged by the rapid release of stockpiles in response to the Iran war, experts warned this week as inventories hit a four-decade low.
Damage to the caverns would make it more difficult to respond to future energy emergencies, the experts said. The oil in the Strategic Petroleum Reserve (SPR) is stored at 60 salt caverns thousands of feet underground at four major sites along the Gulf Coast in Louisiana and Texas.
The SPR has tumbled below 300 million barrels for the first time since it was filled in the early 1980s, according to Department of Energy data released Monday. Inventories are depleting as the U.S. releases 172 million barrels in response to the supply disruption caused by the Iran war. The SPR will sit at around 243 million barrels after the drawdown is finished......................
Depleted strategic oil reserve nears level that raises concerns about damage to caverns, operations
The rapid drawdown of the U.S. Strategic Petroleum Reserve could damage the caverns that store the oil, experts warn.