Global Strategic Petroleum Reserves - GSPR

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.

BREAKING DOWN '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. EIA Petroleum Status Report

    A report published every Wednesday by the Energy Information ...
  2. International Energy Agency - IEA

    An international agency which provides policy advice to 28 member ...
  3. Free Reserves

    A measurement of a bank's reserves that is equal to the difference ...
  4. Energy Sector

    A category of stocks that relate to producing or supplying energy. ...
  5. Crude Stockpiles

    Reserves of unrefined petroleum, measured in numbers of barrels. ...
  6. Institute Of Petroleum - IP

    The Institute of Petroleum (IP), based in the United Kingdom, ...
Related Articles
  1. Investing

    The US Is Becoming More Energy Independent

    Rising production and abundant shale oil and gas reserves are moving the US towards energy independence, which could happen by 2020
  2. Active Trading

    Uncovering Oil And Gas Futures

    Find out how to stay on top of data reports that could cause volatility in oil and gas markets.
  3. Investing Basics

    Why Is China Stockpiling Millions of Barrels of Oil?

    Can China’s recent attempts to build a big oil inventory (at current low oil prices) have a positive impact on its economy? Here’s a closer look.
  4. Investing News

    3 Reasons Energy Investors Should Be Cautious in 2016

    Learn why investors eyeing the energy sector should proceed with caution in 2016, even though energy stocks appear to be attractively priced.
  5. Economics

    What Makes Oil Prices Go Up Or Down

    A look at the top factors and reports that affect the price of oil.
  6. Investing News

    Energy Sector: Industries Snapshot (XLE, XOM)

    Discover the two industries that form the energy sector of the S&P 500 index, and learn which companies may be the right stock for your portfolio.
  7. Stock Analysis

    Do Energy Sector CAPEX Cuts Equal Opportunity?

    Pessimism in the oil patch has reached new levels. Does this mean the sector could be the ultimate value investing buy?
  8. Investing Basics

    What is Crude Oil?

    Crude oil is a natural petroleum product that’s composed of organic materials, including hydrocarbon deposits.
  9. Investing Basics

    American Oil Production's Amazing, Crude Future

    Is America producing more crude oil than it is consuming? How is technology changing the American oil industry? What will domestic oil industry look like in the near future?
  10. Economics

    Who Wins With Low Energy Prices? 

    Low oil prices are here to stay for some time. Which economies will benefit or lose from the low oil price regime?
RELATED FAQS
  1. What economic indicators do oil and gas investors need to watch?

    Leading indicators for oil and gas investments are centered around the levels of production, consumer demand and inventory ... Read Answer >>
  2. What economic indicators are especially important to oil traders?

    Economic indicators are used by traders and investors in an attempt to understand the underlying fundamentals of the market. ... Read Answer >>
  3. How do central banks acquire currency reserves and how much are they required to ...

    A currency reserve is a currency that is held in large amounts by governments and other institutions as part of their foreign ... Read Answer >>
  4. What developed countries have the greatest exposure to oil & gas drilling?

    Find out which countries have the largest proven reserves of oil and gas, and learn how the energy landscape has changed ... Read Answer >>
  5. What factors are the primary drivers of share prices in the oil and gas sector?

    Learn the primary drivers behind changes in the share prices of the oil and gas sector. The oil and gas sector is a cyclical ... Read Answer >>
  6. Who determines the reserve ratio?

    Understand what the Federal Reserve is and what it regulates in the U.S. economy. Learn about the reserve ratio and how the ... Read Answer >>
Hot Definitions
  1. Labor Market

    The labor market refers to the supply and demand for labor, in which employees provide the supply and employers the demand. ...
  2. Demand Curve

    The demand curve is a graphical representation of the relationship between the price of a good or service and the quantity ...
  3. Goldilocks Economy

    An economy that is not so hot that it causes inflation, and not so cold that it causes a recession. This term is used to ...
  4. White Squire

    Very similar to a "white knight", but instead of purchasing a majority interest, the squire purchases a lesser interest in ...
  5. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  6. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
Trading Center