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The Impact of SPR Releases (by Lefty12)

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The chart looks quite bearish for sure.

It is worth noting that the crude oil price only stabilized and began falling in earnest with massive Strategic Petroleum Reserve releases.

Making some rough assumptions from the SPR graph below, beginning April 1 releases of 730,000 bbls/day began (a combination of an ongoing releases that began mid-December 2021and the “Emergency Sale 1” that began April 1, 2022).

The estimated daily amount increased to about 935,000 bbl/day on June 1, 2022 and is now running at about 1,000,000 bbls/day under “Emergency Sale 2” which is set to end on October 31, 2022.