U.S. Strategic Petroleum Reserve Falls to Lowest Level Since 1982
The decline reflects a 172 million-barrel release and swaps with traders, with the reserve now below 284 million barrels, officials said.
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The U.S. strategic oil reserve continues to decline and, according to recent data, has dropped to about 283.8 million barrels, a minimum since October 1982, when the national reserve stood at 283.393 million barrels.
U.S. Strategic Petroleum Reserve Falls to Lowest Level Since 1982
Crude stocks in the U.S. Strategic Petroleum Reserve stood at 284.6 million barrels for the week ending September 18, according to the Energy Information Administration, down from 285.0 million the week before and 406.0 million a year earlier. Department of Energy data show the reserve fell further the following week, to 283.8 million barrels, the lowest level since October 1982. The reserve has now set a new multi-decade low twice this year, f…
The volume of oil in the US strategic reserve fell to 283.8 million barrels in the week ending September 25, which, if confirmed in the next week's American Minergo statistics, will be minimal from October 1982 onwards.
These reductions are part of an agreement by the United States to release at least 172 million barrels of these resources.
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