[
 {
  "country": "United States",
  "cover_basis": "SPR / net crude imports, using DOE's end-2025 ratio (411 mb = 125 days)",
  "cover_days": 86,
  "cover_rule": "us_spr_net_imports",
  "floor_basis": "SPR minimum operating level, Reuters citing a DOE source, 31 Aug 2026",
  "floor_mb": 70,
  "latest_asof": "2026-10-23",
  "latest_mb": 282.6,
  "note": "Scheduled deliveries take the SPR to ~242 mb by end-December; 216 mb is due back from early 2027. Operating floor ~70 mb.",
  "pledge_mb": 172.2,
  "prewar_date": "2026-02-27",
  "prewar_mb": 415.4,
  "rate_avg_basis": "27 Feb-23 Oct average, EIA weekly",
  "rate_avg_kbd": 558,
  "rate_now_basis": "40.6 mb awarded 13 and 28 Oct for Nov-Dec delivery (measured last 4 weeks: 42 kb/d)",
  "rate_now_kbd": 666,
  "rate_now_programme": {
   "days": 61,
   "label": "Nov-Dec 2026 deliveries awarded 13 and 28 Oct",
   "mb": 40.6
  },
  "region": "Americas",
  "released_basis": "pre-war reading minus latest reading (2026-02-27 to 2026-10-23)",
  "released_mb": 132.9,
  "released_rule": "prewar_minus_latest",
  "reserve": "Strategic Petroleum Reserve (government crude)",
  "series_ref": "United States",
  "source_url": "https://www.eia.gov/dnav/pet/pet_stoc_wstk_dcu_nus_w.htm"
 },
 {
  "country": "Japan",
  "cover_basis": "Stockpiling Act days, all stocks, 27 Oct (IEA basis: 175 at end-Aug)",
  "cover_days": 201,
  "latest_asof": "2026-10-27",
  "latest_mb": 177.4,
  "note": "No further release planned (25 Aug, 5 Oct); about 13 mb of the authorised volume is unused. Private obligation cut 70 to 55 days.",
  "pledge_mb": 79.8,
  "prewar_date": "2026-02-28",
  "prewar_mb": 258.6,
  "rate_avg_basis": "State stock end-Feb to end-Aug, METI volumes",
  "rate_avg_kbd": 418,
  "rate_avg_to": "2026-08-31",
  "rate_now_basis": "State days 103 (31 Aug) to 101 (27 Oct); from rounded day counts",
  "rate_now_kbd": 62,
  "region": "Asia-Pacific",
  "released_mb": 76.9,
  "reserve": "National (state) stockpile",
  "series_ref": "Japan",
  "source_url": "https://www.enecho.meti.go.jp/statistics/petroleum_and_lpgas/pl001/pdf-oil-res/oil_daily.pdf"
 },
 {
  "country": "South Korea",
  "cover_basis": "IEA basis, 4 Mar (no later figure published)",
  "cover_days": 208,
  "latest_asof": "2026-10-19",
  "latest_mb": 100.0,
  "note": "4.17 mb of the 100 mb is sanctioned crude that cannot be used. Private obligation cut 40 to 20 days on 29 May.",
  "pledge_mb": 22.5,
  "prewar_date": "2025-12-31",
  "prewar_mb": 100.0,
  "rate_avg_basis": "Net draw since March ~0",
  "rate_avg_kbd": 0,
  "rate_now_basis": "Crude is lent to refiners and repaid in kind; net stock flat (32.7 mb lent 31 Mar-30 Sep)",
  "rate_now_kbd": 0,
  "region": "Asia-Pacific",
  "released_mb": 32.7,
  "reserve": "KNOC government stocks",
  "series_ref": "South Korea",
  "source_url": "https://www.newspim.com/news/view/20261019000001"
 },
 {
  "country": "China",
  "cover_basis": "Kpler: days of refinery needs",
  "cover_days": 80,
  "latest_asof": "2026-10-14",
  "latest_mb": 1124.0,
  "note": "No state reserve release found; the government reserve (~360 mb, EIA estimate) is still being filled.",
  "pledge_mb": null,
  "prewar_date": "2026-02-27",
  "prewar_mb": 1230.0,
  "rate_avg_basis": "Kpler: 1,251 mb (early May) to 1,124 mb (14 Oct)",
  "rate_avg_from": "2026-05-05",
  "rate_avg_kbd": 784,
  "rate_now_basis": "Kpler: record September draw (official data imply ~530 kb/d)",
  "rate_now_kbd": 1600,
  "region": "Asia-Pacific",
  "released_basis": "pre-war reading minus latest reading (2026-02-27 to 2026-10-14)",
  "released_mb": 106.0,
  "released_rule": "prewar_minus_latest",
  "reserve": "Commercial onshore crude (state reserve untouched)",
  "series_ref": "China",
  "source_url": "https://www.kpler.com/blog/chinese-refiners-step-up-middle-east-crude-buying-amid-record-stock-drawdowns"
 },
 {
  "country": "Germany",
  "cover_basis": "Eurostat days of net imports, 2026-08",
  "cover_days": 95.5,
  "latest_asof": "2026-08",
  "latest_mb": 147.2,
  "note": "Stock volume: 20,086 kt x 7.33 bbl/t (approximate).",
  "pledge_mb": 19.5,
  "prewar_mb": null,
  "rate_avg_basis": "3.5 mb credited from 17 Mar to 9 Oct",
  "rate_avg_kbd": 17,
  "rate_now_basis": "Up to 15 mb from 23 Oct to end-January; obligation cut from 90 to 82 days",
  "rate_now_kbd": 150,
  "region": "Europe",
  "released_mb": 3.5,
  "reserve": "Emergency stocks (EU directive)",
  "source_url": "https://dserver.bundestag.de/brd/2026/0583-26.pdf"
 },
 {
  "country": "France",
  "cover_basis": "Eurostat days of net imports, 2026-08",
  "cover_days": 96.5,
  "latest_asof": "2026-08",
  "latest_mb": 120.4,
  "note": "Stock volume: 16,420 kt x 7.33 bbl/t (approximate).",
  "pledge_mb": 14.6,
  "prewar_mb": null,
  "rate_avg_basis": null,
  "rate_avg_kbd": null,
  "rate_now_basis": "SAGESS selling 10 mb of diesel, 24 Oct to 31 Jan",
  "rate_now_kbd": 101,
  "region": "Europe",
  "released_mb": 3,
  "reserve": "Emergency stocks (EU directive)",
  "source_url": "https://www.legifiscal.fr/actualites-fiscales/4700-gazole-publication-decret-encadrant-cession-stocks-strategiques-prix-coutant.html"
 },
 {
  "country": "Spain",
  "cover_basis": "Eurostat days of net imports, 2026-07",
  "cover_days": 100.3,
  "latest_asof": "2026-07",
  "latest_mb": 104.1,
  "note": "Stock volume: 14,199 kt x 7.33 bbl/t (approximate).",
  "pledge_mb": 11.6,
  "prewar_mb": null,
  "rate_avg_basis": null,
  "rate_avg_kbd": null,
  "rate_now_basis": "4.4 mb of middle distillates by 15 Dec; obligation cut from 92 to 82 days",
  "rate_now_kbd": 81,
  "region": "Europe",
  "released_mb": 3.75,
  "reserve": "Emergency stocks (EU directive)",
  "source_url": "https://www.boe.es/boe/dias/2026/10/22/pdfs/BOE-A-2026-21949.pdf"
 },
 {
  "country": "Netherlands",
  "cover_basis": "Eurostat days of net imports, 2026-07",
  "cover_days": 80.4,
  "latest_asof": "2026-07",
  "latest_mb": 30.2,
  "note": "Stock volume: 4,122 kt x 7.33 bbl/t (approximate).",
  "pledge_mb": 5.4,
  "prewar_mb": null,
  "rate_avg_basis": null,
  "rate_avg_kbd": null,
  "rate_now_basis": "COVA tranche of ~0.75 mb from 2 Oct",
  "rate_now_kbd": 24,
  "region": "Europe",
  "released_mb": 4.7,
  "reserve": "Emergency stocks (EU directive)",
  "source_url": "https://www.rijksoverheid.nl/actueel/nieuws/2026/10/01/nederland-gaat-door-met-inzetten-toegezegde-strategische-olievoorraad"
 },
 {
  "country": "Italy",
  "cover_basis": "Eurostat days of net imports, 2026-07",
  "cover_days": 77.3,
  "latest_asof": "2026-07",
  "latest_mb": 68.6,
  "note": "Stock volume: 9,354 kt x 7.33 bbl/t (approximate).",
  "pledge_mb": 10.0,
  "prewar_mb": null,
  "rate_avg_basis": null,
  "rate_avg_kbd": null,
  "rate_now_basis": "Pledge complete (10 mb, 8 Oct)",
  "rate_now_kbd": 0,
  "region": "Europe",
  "released_mb": 10.0,
  "reserve": "Emergency stocks (EU directive)",
  "source_url": "https://www.globalbankingandfinance.com/italy-open-oil-stock-releases-if-european-countries-meet/"
 },
 {
  "country": "Poland",
  "cover_basis": "Eurostat days of net imports, 2026-07",
  "cover_days": 90.5,
  "latest_asof": "2026-07",
  "latest_mb": 58.3,
  "note": "Stock volume: 7,958 kt x 7.33 bbl/t (approximate).",
  "pledge_mb": 7.5,
  "prewar_mb": null,
  "rate_avg_basis": null,
  "rate_avg_kbd": null,
  "rate_now_basis": "No release yet; schedule due by end-November",
  "rate_now_kbd": 0,
  "region": "Europe",
  "released_mb": 0,
  "reserve": "Emergency stocks (EU directive)",
  "source_url": "https://www.money.pl/mobility/polska-uwolni-rezerwy-paliw-minister-opowiedzial-o-kulisach-7344612456904736a.html"
 },
 {
  "country": "Hungary",
  "cover_basis": "Eurostat days of net imports, 2026-07",
  "cover_days": 90.2,
  "latest_asof": "2026-07",
  "latest_mb": 9.6,
  "note": "Stock volume: 1,308 kt x 7.33 bbl/t (approximate).",
  "pledge_mb": 6.1,
  "prewar_mb": null,
  "rate_avg_basis": null,
  "rate_avg_kbd": null,
  "rate_now_basis": "Decree release of ~3.6 mb ran to 30 Jun",
  "rate_now_kbd": 0,
  "region": "Europe",
  "released_mb": 3.6,
  "reserve": "Emergency stocks (EU directive)",
  "source_url": "https://ground.news/article/captain-istvan-ordered-the-release-of-575-million-liters-of-fuel-from-the-safety-stockpile"
 },
 {
  "country": "United Kingdom",
  "cover_basis": "DESNZ: 'more than meeting' 90 days of net imports",
  "cover_days": null,
  "latest_asof": "2026-06-30",
  "latest_mb": 73.3,
  "note": "10.0 Mt of stocks at end-June (DESNZ), converted at 7.33 bbl/t.",
  "pledge_mb": 14.0,
  "prewar_mb": null,
  "rate_avg_basis": null,
  "rate_avg_kbd": null,
  "rate_now_basis": "Released by lowering company obligations; volume not published",
  "rate_now_kbd": null,
  "region": "Europe",
  "released_mb": null,
  "reserve": "Company stocks under the stocking obligation",
  "source_url": "https://assets.publishing.service.gov.uk/media/6aba61e2fe72ed1e2b02f136/Energy_Trends_September_2026.pdf"
 },
 {
  "country": "Türkiye",
  "cover_basis": null,
  "cover_days": null,
  "latest_asof": null,
  "latest_mb": null,
  "note": null,
  "pledge_mb": 11.7,
  "prewar_mb": null,
  "rate_avg_basis": null,
  "rate_avg_kbd": null,
  "rate_now_basis": "Regulator opened 46% (13-31 Mar), then 42% (1 Apr-10 Jun) of compulsory stocks; refill due by 31 Dec",
  "rate_now_kbd": null,
  "region": "Europe",
  "released_mb": null,
  "reserve": "Compulsory industry stocks",
  "source_url": "https://www.ekonomist.com.tr/ekonomi-haberleri/epdk-dan-kritik-karar-petrol-stoklarini-yerine-koyma-suresi-uzatildi-75451"
 },
 {
  "country": "Switzerland",
  "cover_basis": "Jet fuel, 21 Sep (target 90)",
  "cover_days": 76,
  "latest_asof": null,
  "latest_mb": null,
  "note": "Draws are under 4% of stocks per release; restock within six months.",
  "pledge_mb": null,
  "prewar_mb": null,
  "rate_avg_basis": null,
  "rate_avg_kbd": null,
  "rate_now_basis": "45,000 m3 diesel (23 Oct-22 Nov) + 30,000 m3 jet fuel (15 Oct-1 Nov)",
  "rate_now_kbd": 21,
  "region": "Europe",
  "released_mb": 0.82,
  "reserve": "Compulsory stocks (BWL)",
  "source_url": "https://www.bluewin.ch/en/news/shortage-switzerland-secures-diesel-supply-through-mandatory-stock-drawdowns-li.3646497"
 },
 {
  "country": "Australia",
  "cover_basis": "Diesel days, 20 Oct (petrol 39, jet 28)",
  "cover_days": 31,
  "latest_asof": null,
  "latest_mb": null,
  "note": null,
  "pledge_mb": 4.8,
  "prewar_mb": null,
  "rate_avg_basis": null,
  "rate_avg_kbd": null,
  "rate_now_basis": "Obligation cut 20% for petrol and diesel from 16 Mar; instrument repealed 30 Jun",
  "rate_now_kbd": 0,
  "region": "Asia-Pacific",
  "released_mb": 4.8,
  "reserve": "Minimum stockholding obligation",
  "source_url": "https://fuelplan.gov.au/fuel-statistics"
 },
 {
  "country": "India",
  "cover_basis": "Total crude and product stocks, oil minister, 8 Jun (SPR alone ~6 days)",
  "cover_days": 78,
  "latest_asof": "2026-03-23",
  "latest_mb": 24.7,
  "note": "3.372 Mt stored, 64% of capacity.",
  "pledge_mb": null,
  "prewar_mb": null,
  "rate_avg_basis": null,
  "rate_avg_kbd": null,
  "rate_now_basis": "Draws unclear: reports of two cargoes to state refiners (15 Apr) vs untapped (23 Apr)",
  "rate_now_kbd": null,
  "region": "Asia-Pacific",
  "released_mb": null,
  "reserve": "Strategic Petroleum Reserve (ISPRL)",
  "source_url": "https://www.business-standard.com/industry/news/indian-strategic-oil-reserves-about-two-thirds-full-minister-126032300650_1.html"
 }
]