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Oil reserve

After a year of drawdowns, the Biden administration moves to replenish the Strategic Petroleum Reserve

by Lily Jamali
Dec 22, 2022
Analysts say the SPR is increasingly being used not just to cushion against oil price shocks, but to support prices.
A Strategic Petroleum Reserve storage site in Freeport, Texas. Currently, there's less oil in the reserve than at any point since 1984.
Brandon Bell/Getty Images
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