EIA analysis: the SPR oil is here

When the International Energy Agency announced a release of strategic stocks in June — with the US Strategic Petroleum Reserve providing the biggest share — there was controversy that continues today. Will it have any impact on prices? Shouldn’t this wait for something bigger than just the loss of Libyan crude? Isn’t the market well-supplied already?

Those answers are still very much a matter of judgment and opinion. But one thing is clear: the oil is definitely out there. The released barrels from the SPR were front and center in this week’s Energy Information Administration inventory report, which Platts’ Linda Rafield comments on here.

Platts