I assume you are talking about the Strategic Petroleum Reserve (SPR). Replenish implies it was drawn down. It is barely off the top peak.
How much oil do you think we need in the SPR? How many days of OPEC oil imports?
Good time to replenish the reserves.
Looked at the futures markets for light crude and Brent crude. By 2021 Brent futures are under $83. By 2021 light crude is under $76, I think. Another site said that Canadian tar sands oil production is not practical for less that $95 except for less than 10% of production which can go as low as $75. With that situation, the Keystone XL Pipeline may loose momentum.
I read reports in Barrons suggesting that oil could go as low as $35 and be relatively stable around $65. Can’t wait to see the future.
The dims want to sell reserves. That's why we call them dim.
I assume you are talking about the Strategic Petroleum Reserve (SPR). Replenish implies it was drawn down. It is barely off the top peak.
How much oil do you think we need in the SPR? How many days of OPEC oil imports?