Overview

• White House Press Secretary Karoline Leavitt told reporters there are no imminent plans to refill the Strategic Petroleum Reserve.
• Department of Energy maintenance has deferred crude deliveries into the reserve until December 2025.
• Only 8.8 million of the 15.8 million barrels scheduled for January through May have been delivered so far this year.
• After a 180 million-barrel drawdown in 2022, SPR holdings are at their lowest level since the 1980s.
• Energy Secretary Chris Wright estimates restoring pre-drawdown volumes would cost about $20 billion and take several years.