The U.S. has drawn heavily from its Strategic Petroleum Reserve since the war with Iran began, shrinking the stockpile by more than 30% in six months. The reserve, stored in underground salt caverns in Louisiana and Texas, is one of the government’s main tools for easing pressure on gas prices. Here’s what to know:
🛢️ Rapid drawdowns can damage the reserve itself, putting stress on the salt caverns and other infrastructure.
🛢️ The Trump administration is exploring a possible oil swap with Venezuela, though much of the crude under discussion is heavy and difficult to extract.
🛢️ China has also tapped its reserves, but less aggressively as electric vehicles make up a larger share of transportation there. |