SPR Gets Drained to Dump Crude Oil on Global Markets: US Exports of Crude Oil & Petroleum Products Spike

The global spike in prices of crude oil and of petroleum products such as diesel, gasoline, and jet fuel, has cranked up the US production and export machinery, supplemented by the massive releases of the Strategic Petroleum Reserve (SPR) that were either directly exported to the rest of the world, or refined and exported as value-added product.