US strategic oil reserves fall to lowest level in 44 years
US strategic crude oil reserves dropped by 3.1 million barrels last week, reaching their lowest level since November 1982, the Energy Department said.
Key Takeaways
AIThe US Department of Energy announced today that crude oil stocks in the country’s Strategic Petroleum Reserve fell by about 3.1 million barrels to 286.6 million last week, marking their lowest level since November 1982.
This decline comes as part of a US initiative to withdraw 172 million barrels from the reserves.