// definition
SPR
Strategic petroleum reserve
Short definition
In the United States, the Strategic Petroleum Reserve is a federal crude stockpile held in salt caverns to respond to supply disruptions. Other countries’ emergency systems may also include refined products owned by the government, an agency or companies subject to stockholding obligations. Crude still needs refining; product mix, transport and available capacity determine the fuel delivered. Loaned oil becomes a claim on future repayment; it is available in the reserve again after its physical return.
risk atlas
Knowledge map
Intuition
A stock cushions an interruption when oil can be withdrawn, transported and processed in time. A repayment promise organises future availability.
Formula
theoretical coverage (days) = deployable volume (barrels) / remaining gap (barrels per day)Why it matters now
The September 2026 U.S. offer includes return windows through 2029. Barrel premiums must be read alongside timing and logistical capacity.
Related analyses
- Strategic oil reserves buy time
- Oil reserves: the journey from storage to diesel
- Emergency oil reserves: the distance to the pump
- Emergency oil reserves: the refinery sets the pace
- Emergency oil reserves: from the market to the pump
- Emergency oil reserves: the contracts behind the release
- Oil: the Chinese inventory capping pricesReserves, Brent prices and Chinese buying behaviour.
- China crude imports fallPhysical flows, margins and market power.
Related guides
- Reading the oil marketPrices, curve, inventories, OPEC and physical data.
Related datasets
- risk.jsonPublic snapshot of the risk signals.
- signals/history.jsonPoint-in-time history of the signals.
- risk-diff.json1, 7 and 30-day diff of signals, sources and models.
- evidence-graph.jsonClaims, evidence and their sources as a graph.
Signals using it
- Energy MonitorMethodology of the energy stress signal.
- Risk DiffRecent change in risk and source freshness.
Primary sources
- DOE, SPR sales and exchanges
- IEA, emergency stockholding systems
- U.S. Energy Information AdministrationOil, gas, inventories, production and the Short-Term Energy Outlook.