SUBSCRIBE
PROFILE

The United States restores its strategic oil reserves

The United States plans to replenish its strategic oil reserves by the end of the year, after using them to stabilize crude prices.

Share:

USA restaurent réserves stratégiques pétrole

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Between September 2021 and July 2023, the United States extracted around 274 million barrels from its strategic reserves, reducing them to their lowest level in 40 years. This action, described as unprecedented, was criticized by political opponents as a maneuver for political ends, although it was intended to respond to major disruptions in the oil market.

Replenishment strategy

Since June 2023, the government has been buying back oil to replenish these reserves. In nine months, reserves rose by around 14.7 million barrels. Energy Minister Jennifer Granholm highlighted the purchase of an additional 30 million barrels and the use of swap contracts to recover oil, looking to restore reserves to previous levels by the end of the year.

Cancellation of Additional Drawings

The Energy Secretary also mentioned the cancellation, with the support of Congress, of additional drawdowns that were provided for in previous legislation. These measures would have forced the Department of Energy to sell an additional 140 million barrels between 2023 and 2027, underlining an effort to adapt energy policy to market realities.

Impact on the oil market

Following periods of tension, due in particular to the pandemic and Russia’s invasion of Ukraine, the oil market has stabilized since the autumn. Oversupply and uncertainties over demand have prompted some OPEC members and their allies to cut production, with the aim of bolstering oil prices.

Energy Security and Market Response

Granholm emphasized the ability of the United States to act responsibly in the face of market changes, while preserving global energy security. This approach illustrates a balance between strategic intervention and adaptation to market dynamics, aimed at ensuring long-term energy stability.

The US plan to replenish its strategic oil reserves reflects a nuanced strategy aimed at balancing market intervention with energy security imperatives. This move, in line with developments on the oil market, reflects America’s determination to maintain its position of strength in the global energy context.

  • Popular on energynews.pro
Saudi Arabia grants $60mn loan to expand Mauritania’s power transmission network
United States adds 11.7 GW of renewable capacity in Q3 despite uncertainty
Vena Energy launches 408 MWh storage system in South Australia
Mitsubishi HC Capital Energy and Ecokaku to build 10 MW of non-FIT solar per year
Small modular reactor market to reach 912.5 MW by 2030
Iran seizes tanker carrying 6 mn litres of diesel in the Gulf of Oman
Iranian authorities intercepted a vessel suspected of fuel smuggling off the coast of the Gulf of Oman, with 18 South Asian crew members on board, according to official sources.
Harbour Energy to acquire Waldorf’s UK assets for $170mn
Harbour Energy will acquire Waldorf Energy Partners’ North Sea assets for $170mn, increasing its stakes in the Catcher and Kraken fields, while Capricorn Energy settles part of its claims.
BP and Chevron invest over $110mn in targeted Gulf of Mexico blocks
The Big Beautiful Gulf 1 sale attracted more than $300mn in investments, with a focused strategy led by BP, Chevron and Woodside on high-yield blocks.
Washington seizes oil tanker linked to Maduro and tightens sanctions on Caracas
The United States intercepted an oil tanker loaded with Venezuelan crude and imposed new sanctions on maritime entities, increasing pressure on Nicolas Maduro’s regime and its commercial networks in the Caribbean.
OPEC+ forecasts tight balance between oil supply and demand in 2026
OPEC expects crude demand from its members to reach 43 million barrels per day in 2026, nearly matching current OPEC+ output, contrasting with oversupply forecasts from other institutions.
US seizes oil tanker off Venezuela as Caracas denounces an act of aggression
The United States seized a vessel suspected of transporting sanctioned oil from Iran and Venezuela, prompting a strong reaction from Nicolás Maduro's government.
IEA cuts 2026 oil surplus forecast to 3.84 million barrels per day
The International Energy Agency lowers its global oil supply forecast for 2026 while slightly raising demand growth expectations amid improved macroeconomic conditions.
South Sudan secures Heglig border oilfield after tripartite military agreement
South Sudanese authorities have been granted responsibility for securing the strategic Heglig oilfield following an agreement with both warring parties in Sudan.
TotalEnergies takes control of PEL83 license in Namibia with Mopane discovery
TotalEnergies acquires a 40% operated interest in the offshore PEL83 license, marking a strategic move in Namibia with the Mopane oil field, while Galp secures stakes in two other promising blocks.
BOURBON secures 5-year contract with ExxonMobil for Guyana operations
BOURBON will provide maritime services to ExxonMobil Guyana for five years starting in 2026, marking a key step in the logistical development of the Guyanese offshore basin.
Viridien launches seismic reimaging programme over block 22 in Angola
Viridien has launched a 4,300 sq km seismic reimaging programme over Angola’s offshore block 22 to support the country’s upcoming licensing round in the Kwanza Basin.
Shell secures Kremlin approval to exit Rosneft partnership in CPC
Shell restructures its stake in the Caspian pipeline by exiting the joint venture with Rosneft, with Kremlin approval, to comply with sanctions while maintaining access to Kazakh crude.
Shell resumes offshore exploration in South Africa with $150mn investment
Shell acquires 60% of Block 2C in the Orange Basin, commits to drilling three wells and paying a $25mn signing bonus to PetroSA, pending regulatory approval in South Africa.
Trump maintient l’alliance avec l’OPEP malgré la pression sur Caracas
Malgré la pression exercée sur le gouvernement vénézuélien, Washington ne cherche pas à exclure Caracas de l’OPEP, misant sur une influence indirecte au sein du cartel pour défendre ses intérêts énergétiques.
Kazakhstan redirects part of Kashagan crude to China after attack
Kazakhstan redirects part of its oil production to China following the drone attack on the Caspian Pipeline Consortium terminal, without a full export halt.
Xtellus Partners proposes asset swap to compensate US investors tied to Lukoil
US investment bank Xtellus Partners has submitted a plan to the US Treasury to recover frozen Lukoil holdings for investors by selling the Russian company’s international assets.
Cybele Energy invests $17mn to explore offshore oil block in Guyana
Ghanaian company Cybele Energy has signed a $17mn exploration deal in Guyana’s shallow offshore waters, targeting a block estimated to contain 400 million barrels and located outside disputed territorial zones.
Oil stabilises below $63 as markets watch Ukraine talks
Oil prices moved little after a drop linked to the restart of a major Iraqi oilfield, while investors remained focused on Ukraine peace negotiations and an upcoming monetary policy decision in the United States.
TechnipFMC secures strategic contract for Captain field in the North Sea
TechnipFMC will design and install flexible pipes for Ithaca Energy as part of the development of the Captain oil field, strengthening its footprint in the UK offshore sector.
Vaalco launches drilling of ET-15 well offshore Gabon to support growth
Vaalco Energy has started drilling the ET-15 well on the Etame platform, marking the beginning of phase three of its offshore development programme in Gabon, supported by a contract with Borr Drilling.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.