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1 1 (April 11, 2025)

handle is hein.crs/scpmrsvei0001 and id is 1 raw text is: Congressional Research Service Inforrmng the Iegislative debate since 1914 __________________ Strategic Petroleum Reserve: Inventory Outlook and Policy Considerations April 11, 2025 In his January 2025 inaugural address, President Trump indicated that his administration intends to fill the U.S. Strategic Petroleum Reserve (SPR) to capacity. A February 2025 U.S. Department of Energy (DOE) Secretarial Order includes Refill the Strategic Petroleum Reserve as a department-level priority. The SPR Petroleum Account, which is used to purchase oil for the reserve, received approximately $17 billion from emergency oil sales in response to market conditions related to Russia invading Ukraine in 2022. However, oil purchases, other expenses, and congressional rescissions depleted emergency sale proceeds from the account. Filling the SPR to its approximately 714 million barrel (Mbbl) physical capacity could require congressional action in the form of appropriations and adjusting congressionally mandated SPR sales. At the end of calendar year 2024, SPR inventory consisted of approximately 394 Mbbl of crude oil in underground storage caverns located in Texas and Louisiana. Accounting for additional crude oil deliveries from contracted purchases and scheduled exchange returns, along with releases required by mandated sales, SPR inventory is projected at approximately 335 Mbbl by the end of 2031 (see Figure 1). At this projected level, DOE would need to acquire approximately 379 Mbbl to fill the SPR. Congressional Research Service https://crsreports.congress.gov IN12542 CRS INSIGHT Prepared for Members and Committees of Congress -

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