Note that there are drawdowns are still occurring out of the SPR.

October looks like it has been a busy month moving oil out of the SPR.

http://www2.spr.doe.gov/DIR/SilverStream/Pages/pgDailyInventoryReportViewDOE_new.html

Note there are even November numbers. Can anyone explain that one to me?

Is this why crude stocks built over the last few weeks?

The November number are obviously scheduled movements judging by the notes at the bottom of the table.

Do you know what they mean by 'Exchange'?  The 'Drawdown' is an obvious figure, but why is the 'Exchange' figure sometimes negative?  What is the difference between a negative Exchange and a Drawdown?

Also, look at the Exchange figures for March to May next year! How on earth can they know what is going into the SPR so far out?

I believe that one major way to fill the SPR in the past was to exercise a clause in every mineral rights contract that involved federal lands which basically gave the SPR first rights to a specific percentage of each such well's production. Thus if production from those wells holds steady for 6 more months (a fairly reasonable short term assumption) then they can project that amount coming in. I think of it as a direct tax on the production of oil from federal lands. It doesn't "cost" the government anything but it is production "lost" to the producer as a concession to government.

This may be how they know what to expect incoming.

I think an exchange is where you swap seet for sour etc.

Coul be wrong.