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SPR Sales Keep US on Track as Large Net Exporter

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  • Strategic oil reserve sales added 600,000 b/d to US supply in 2022.
  • In 2023, US is on track to become an even larger net exporter.
  • China is re-emerging as a large buyer of US oil products.

The US is poised to achieve the status of a net exporter of fuel in 2022 in part thanks to the sale of close to 220 million barrels of crude oil from the government-controlled strategic petroleum reserve (SPR).

Topics:
Oil Supply, Crude Oil, Oil Trade, Oil Products, Oil Demand
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