US oil reserve hits 44-year-low amid Iran war, global energy shortage
The reserve’s drawdown reflects emergency releases aimed at offsetting war-related supply disruptions and keeping fuel markets supplied, officials said.
- On Tuesday, Department of Energy data confirmed the U.S. Strategic Petroleum Reserve fell by 3.1 million barrels to 286.6 million barrels, marking its lowest level since 1982.
- Following the Iran war's outbreak in late February, the U.S. committed 172 million barrels to a coordinated 400-million-barrel release by International Energy Agency members.
- Experts warn that structural risks escalate when reserves drop below 300 million barrels, potentially hindering the ability to pump and process oil efficiently at current levels.
- Renewed fighting near the Strait of Hormuz has disrupted maritime security, prompting the U.S. to draw down reserves to mitigate supply volatility as crude prices climb higher.
- President Donald Trump announced plans to control 17 Venezuelan oilfields to boost output by 1.5 million barrels daily, though analysts caution that increasing production will take years.
41 Articles
41 Articles
America Tapped Its Emergency Oil Reserve Just Four Times Before This War, and Never Like This: The Biggest Release in Its History
The Strategic Petroleum Reserve fell by more than three million barrels last week to its lowest level in more than four decades. U.S.-Iran strikes pushed Brent to its highest since late July, Saudi Arabia blamed Iran for the attack on its tanker Sidr, and Wright said Monday's Hormuz flows were the highest since the war.
Commercial oil reserves fell 4.5 million barrels while refinery activity reached record levels driven by geopolitical tensions.
The oil stocks fell to 4.45 million barrels, to 424,460 million, in the week closed last Friday (28), reported the Department of Energy (DoE) of the United States, recently. The result represented a larger drop than expected by a group of analysts, which was 300 thousand. The gasoline stocks fell to 1,173 million barrels last week, to 205,669 million barrels, before expecting a fall of 1.7 million. Distillate stocks rose to 104,187 million barre…
EIA Data Shows U.S. Crude Inventories Fall 4.5 Million Barrels as Demand Slumps
Commercial crude oil inventories in the United States dropped by 4.5 million barrels for the week ending August 28, according to the U.S. Energy Information Administration (EIA). The drawdown brings total commercial stockpiles to 424.5 million barrels, a level that sits approximately 1% above the five-year seasonal average. The EIA figures followed data from the […]
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