Global Strategic Petroleum Reserves - GSPR

AAA

DEFINITION of 'Global Strategic Petroleum Reserves - GSPR'

Global Strategic Petroleum Reserves (GSPR) are crude oil inventories held by countries or private industries in preparation for future energy crises. The reserves are intended to provide economic and national security in the event of an energy crises. Countries that participate in the GSPR and that are members of the International Energy Agency (IEA) are expected to have on reserve an amount of oil equal to or greater than 90 days worth of the previous year's net imports.

INVESTOPEDIA EXPLAINS 'Global Strategic Petroleum Reserves - GSPR'

The purpose of the global strategic petroleum reserves is to thwart a crippling energy crisis. In the event that oil production decreases due to situations such as the physical disruption of the recovery or refinery process, the oil reserves are intended to meet daily energy requirements.

RELATED TERMS
  1. Oil Field

    A tract of land used for extracting petroleum, or crude oil, ...
  2. Oil Refinery

    An industrial plant that refines crude oil into petroleum products ...
  3. Crude Oil

    A naturally occurring, unrefined petroleum product composed of ...
  4. Oil Reserves

    An estimate of the amount of crude oil located in a particular ...
  5. Organization Of Petroleum Exporting ...

    An organization consisting of the world's major oil-exporting ...
  6. Oil Sands

    Sand and rock material which contains crude bitumen (a heavy, ...
Related Articles
  1. Peak Oil: What To Do When The Wells ...
    Economics

    Peak Oil: What To Do When The Wells ...

  2. Uncovering Oil And Gas Futures
    Active Trading

    Uncovering Oil And Gas Futures

  3. Peak Oil: Problems And Possibilities
    Options & Futures

    Peak Oil: Problems And Possibilities

  4. How Does Crude Oil Affect Gas Prices?
    Active Trading

    How Does Crude Oil Affect Gas Prices?

comments powered by Disqus
Hot Definitions
  1. Passive ETF

    One of two types of exchange-traded funds (ETFs) available for investors. Passive ETFs are index funds that track a specific ...
  2. Walras' Law

    An economics law that suggests that the existence of excess supply in one market must be matched by excess demand in another ...
  3. Market Segmentation

    A marketing term referring to the aggregating of prospective buyers into groups (segments) that have common needs and will ...
  4. Effective Annual Interest Rate

    An investment's annual rate of interest when compounding occurs more often than once a year. Calculated as the following: ...
  5. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  6. Odious Debt

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious ...
Trading Center