Strategic reserve tops 600 million barrels - June 01, 2003

Providing coverage of Alaska and northern Canada's oil and gas industryJune 2003

Vol. 8, No. 22

Week of June 01, 2003

Strategic reserve tops 600 million barrels

The Department of Energy reported May 22 that the U.S. Strategic Petroleum Reserve has topped 600 million barrels, well on its way to the 700 million barrel target set by the Bush administration in 2001.

The previous SPR record was 592 million barrels in 1994, but levels fell late last year when the oil workers strike in Venezuela and civil unrest in Nigeria cut into imports.

Regular shipments resumed earlier this month, including a delivery of Venezuelan crude to the Big Hill, Texas, storage site.

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