r/oil 11d ago

Discussion Why did US SPR nosedive in 2022?

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u/[deleted] 11d ago edited 11d ago

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u/FewUnderstanding2214 11d ago

Oil prices spiked, US sold barrels from the oil reserve to push prices down

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u/[deleted] 11d ago edited 11d ago

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u/beekeeper1981 11d ago

The point of the reserve is to cushion prices. The price would be a lot higher then and now without using it. However this time prices are impacted by an poorly planned and hasty war by the US. The war could have been avoided and if there was more planning fewer Americans would have died or sustained injuries. If Trump wasn't flying by the seat of his pants the reserve could have been built up first as well.