US emergency oil stockpile tumbles to lowest since the Reagan administration
Federal data show the reserve holds 340.3 million barrels, and officials say the exchange program could return more than 3 billion dollars to taxpayers.
- The U.S. Strategic Petroleum Reserve plunged to 340.3 million barrels for the week ending June 12, according to newly released data from the Department of Energy.
- The drawdown marks the lowest emergency stockpile level since July 1983, a multi-decade low dating back to when the Reagan administration was still actively filling the reserve for the first time.
- The Trump administration aggressively drained 75 million barrels—roughly 18% of the total reserve—since late February to counter severe energy market shocks sparked by the war with Iran and the near-total closure of the Strait of Hormuz.
- A massive release of 8.9 million barrels last week alone officially wiped out the prior modern low set in July 2023 under President Joe Biden during the supply disruptions of the Russia-Ukraine war.
- Energy sector experts are sounding alarms over operational safety limits, warning that the emergency buffer is now less than half full and rapidly approaching the 20% minimum threshold required for the system to physically operate.
58 Articles
58 Articles
The Iran war has shaken the global oil supply: US reserves are almost empty. When ships can pass the Strait of Hormus is still unclear.
Hawaii Tribune-Herald
BizTocStocks of oil in US Strategic Petroleum Reserve falls to lowest since 1983
HOUSTON — Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell to 340.3 million barrels, the lowest level since 1983, according to data from the Department of Energy on Monday, signaling tight supplies just as the U.S. and Iran agree on a deal to end the war and open the Strait of Hormuz. The post Stocks of oil in US Strategic Petroleum Reserve falls to lowest since 1983 appeared first on Hawaii Tribune-Herald.
Is Donald Trump threatening the oil bankruptcy? Last week, America's oil reserve shrunk to the lowest level since 1983 - dangerously close to the border, where experts fear security of supply.
![[your]NEWS](/_next/image?url=https%3A%2F%2Fgroundnews.b-cdn.net%2Finterests%2Ffb6dc495f74049f513563c33352175eaa0ecd509.jpg%3Fwidth%3D24&w=64&q=75){kind=small}
U.S. Emergency Oil Reserve Falls to Lowest Level Since 1983 After Major Crude Drawdown
The Strategic Petroleum Reserve has dropped to 340.3 million barrels as the Trump administration releases oil to boost supply and ease pressure on fuel prices. The post U.S. Emergency Oil Reserve Falls to Lowest Level Since 1983 After Major Crude Drawdown first appeared on [your]NEWS.
Coverage Details
Bias Distribution
- 54% of the sources are Center
![[your]NEWS](/_next/image?url=https%3A%2F%2Fgroundnews.b-cdn.net%2Finterests%2Ffb6dc495f74049f513563c33352175eaa0ecd509.jpg%3Fwidth%3D60&w=128&q=75)
Factuality
To view factuality data please Upgrade to Premium
