Who is Strategic Petroleum Reserve (SPR)?

Strategic Petroleum Reserve (SPR) refers to oil stockpiles or inventories held by the government of a particular nation to help reduce energy costs, protect the economy and maintain national security during the crisis. The SPR assures access to oil supply in cases of natural disaster, security issues and other events.

 

SPR, the largest known emergency supply in the world, is necessary to make up for shortfalls due to disruptions in supply or sudden splurges in consumption. Strategic reserves seal the anticipated gap between supply and demand and help establish parity on an enduring basis.

Generally, SPRs include a proportionate mix of crude