Agent K: “A person is smart. People are dumb, panicky dangerous animals and you know it.”
The SPR can discharge at 4.4 MMBPD. We currently produce 11–12 MMBPD crude (late 2021), import 8–9 MMBPD crude + products, and export 6–7 MMBPD crude + products (Jan 2022, all per EIA.)
Studies are mixed. This one shows a modest effect:
Does Drawing Down the U.S. Strategic Petroleum Reserve Help Stabilize Oil Prices?
Lutz Kilian and Xiaoqing Zhou
Federal Reserve Bank of Dallas