US strategic oil reserves fall to lowest level since 1982
US Department of Energy data shows crude oil in the Strategic Petroleum Reserve dropped by 1.2 million barrels last week to 285.4 million barrels.
Key Takeaways
AIData from the US Department of Energy showed that crude oil inventories in the Strategic Petroleum Reserve fell by about 1.2 million barrels last week, reaching 285.4 million barrels.
This marks the lowest level for the US strategic reserve since November 1982, as withdrawals from the stockpile continue.
The decline is part of a US agreement to release around 172 million barrels from the Strategic Petroleum Reserve.