Pace of SPR Oil Withdrawals Seen Likely to Slow -- Market Talk

Dow Jones
06/16

1434 ET - The U.S. released 8.9 million barrels of oil last week from the Strategic Petroleum Reserve, the Department of Energy reports, leaving the reserve with 340.3 million barrels--below the 2023 low reached after the reserve was tapped in the wake of Russia's invasion of Ukraine. Since late March, the DOE has released around 75 million of the planned 172 million barrels and the depletion has raised some concerns about how far the SPR can safely go. "Whatever that minimal safe level is, the professional engineers who run the SPR facilities will not allow that level to be approached," says Pavel Molchanov, investment strategy analyst at Raymond James. "I think we will see a gradual reduction in the pace of withdrawal." (anthony.harrup@wsj.com)

 

(END) Dow Jones Newswires

June 15, 2026 14:34 ET (18:34 GMT)

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