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U.S. strategic oil reserves face low stockpiles and equipment failures

A government report cited by MarketWatch says the Strategic Petroleum Reserve has been hit by major leaks, spills, and equipment failures as stockpiles remain precariously low.

Reported · Written up by our desk · Energy

The U.S. Strategic Petroleum Reserve is operating at precariously low stockpile levels and has also been affected by major equipment failures, leaks, and spills, according to a government report highlighted by MarketWatch.

The outlet says the condition of the reserve has raised concerns given how heavily the stockpiles underpin the country’s ability to respond to disruptions in oil supply.

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