Dossier
US Oil Reserve
Coverage of US Oil Reserve in the Nexus archive.
- The U.S. oil reserve is at a 40-year low — but the government says there’s still plenty of breathing room
The U.S. oil reserve is at a 40-year low, but the government claims there is still ample supply. The Energy Department states the operational minimum for storage caverns is about 70 million barrels, which is significantly lower than estimates from the oil industry.
- US oil reserve at half its normal levels, facing operational failure: bombshell watchdog warning
The US oil reserve is at half its normal levels and facing operational failure, according to a watchdog warning. A release of 172 million barrels in March aimed to ease domestic gas prices that spiked after the war with Iran began.