The state releases energy storage crude oil

How often does EIA report crude oil storage capacity?

EIA releases a report twice a year detailing crude oil and product storage capacity in the United States; this report describes two measures of capacity. Net available shell capacity includes tank bottoms, working storage capacity, and contingency space (see figure below).

How much oil does the United States have in its strategic reserve?

The United States has about 606 million barrels of oil in its strategic reserve and is tapping it in conjunction with moves from other countries. (This story has been corrected to reflect oil sales in barrels instead of dollars in third paragraph) The Reuters Power Up newsletter provides everything you need to know about the global energy industry.

How much oil did the Department of energy buy?

The Department of Energy said it had bought 2.4 million barrels of oil for the reserve for delivery from April through May to the SPR's Bryan Mound, Texas site. The purchase depleted the department's fund to buy back more oil for the reserve, it said.

What is crude oil working storage capacity?

Working storage capacity, which excludes contingency space and tank bottoms, is perhaps a more useful measure of capacity. From September 2013 to September 2014, total crude oil working storage capacity increased from 502 million barrels to 521 million barrels.

Is our strategic oil reserve down to nothing?

Earlier, former House Speaker Kevin McCarthy (R-Calif.) lamented to reporters that “our Strategic Petroleum Reserve is down to nothing.” In fact, the reserve still holds 351 million barrels — equivalent to nearly 56 days of total U.S. oil imports last year — though well below the peak of 727 million barrels it held during the Obama administration.

Where are US crude oil stocks stored?

Most U.S. crude oil stocks are held in the Midwest and Gulf Coast, where storage tanks were at 69% and 56% of capacity, respectively, as of February 20.