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?

Hot Definitions
  1. Return On Sales - ROS

    A ratio widely used to evaluate a company's operational efficiency. ROS is also known as a firm's "operating profit margin". ...
  2. Halloween Strategy

    An investment technique in which an investor sells stocks before May 1 and refrains from reinvesting in the stock market ...
  3. Halloween Massacre

    Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, ...
  4. Zombies

    Companies that continue to operate even though they are insolvent or near bankruptcy. Zombies often become casualties to ...
  5. Witching Hour

    The last hour of stock trading between 3pm (when the bond market closes) and 4pm EST. Witching hour is typically controlled ...
  6. October Effect

    The theory that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological ...
Trading Center