Daily Energy Report
US SPR drop, China oil/LNG imports, Mideast’s turbulent status quo, Kuwait oil deal with KKR/Blackstone, M&A deals, China’s energy bet, Trump/rare earth reality, India deepwater drilling, and more.
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July 27, 2026
Chart of the Day
EOA: US SPR Continues to Decline Toward the Congressionally-Mandated Limit
Summary
The US SPR declined by about 3.7 mb to 307.7 mb last week according to the EIA. The increase in withdrawals of light crude relative to sour crude is something that cannot be ignored, although the total amount decreased statistically. Light sweet crude was down about 2.2 mb last week, while sour was only down by about 1.6 mb, as shown in Figure 1.
EOA’s Main Takeaway
Here are some facts about the impact of the SPR:
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