đąïž The oil buffer is getting thin.
The Strategic Petroleum Reserve (SPR) is down to around 285 million barrels, the lowest level since April 1984.
The Energy Department said the SPR's minimum inventory is determined by "cavern mechanics," which @MorganStanley says translates to a conservative operational minimum of about 70 million barrels.
Morgan Stanley estimates monthly U.S. crude oil use at around 520 million barrels.
A monthly SPR drawdown of 30 million barrels accounts for only about 6% of U.S. crude oil use.
The Strategic Petroleum Reserve (SPR) is down to around 285 million barrels, the lowest level since April 1984.
The Energy Department said the SPR's minimum inventory is determined by "cavern mechanics," which @MorganStanley says translates to a conservative operational minimum of about 70 million barrels.
Morgan Stanley estimates monthly U.S. crude oil use at around 520 million barrels.
A monthly SPR drawdown of 30 million barrels accounts for only about 6% of U.S. crude oil use.
