Washington’s Dilemma in Trying to Refill Petroleum Reserves After 220 Million Barrel Drawdown

In an aerial view, the Strategic Petroleum Reserve storage at the Bryan Mound site is seen in Freeport, Texas, on Oct. 19, 2022. Brandon Bell/Getty Images

News Analysis

After the Biden administration released 180 million barrels of oil last year from its Strategic Petroleum Reserve (SPR) in an attempt to rein in gasoline prices, Washington is now facing a dilemma while trying to replenish the SPR as it deals with price and funding challenges.