US Strategic Petroleum Reserves Fall to 284.6 Million Barrels, Hitting Their Lowest Level in 44 Years
The reserve has fallen more than 30% in 6 months as the Trump administration tapped it to counter fuel shortages and high prices.
- The Strategic Petroleum Reserve, housed in underground Louisiana and Texas caverns, now holds less than 285 million barrels of oil, marking its lowest level since the early 1980s.
- Following an oil shipping logjam caused by the war with Iran in late February, the Trump administration repeatedly tapped the stockpile to boost fuel supplies, shrinking reserves by more than 30% in six months.
- With Brent crude remaining over $100 a barrel, experts like Gross warn that pumping too much oil can degrade physical facilities, noting "That's not necessarily what you want to put in these caverns."
- The White House announced a partnership in late August for a majority stake in 17 Venezuelan oil fields, stating the deal ensures "a stable supply of low-cost oil that can facilitate refilling the Strategic Petroleum Reserve."
- Contrasting with global trends, the Trump administration last year reversed federal policies promoting electric vehicles, including scrapping a tax credit worth up to $7,500, even as China's fleet displaces demand for at least 1.5 million barrels of oil daily.
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US Department of Energy data showed that crude oil stocks in the United States strategic oil reserve fell to 284.6 million barrels last week, the lowest level since October 1982.
How to Position Before the Oil Cushion Hits Empty
InvestorPlace - Stock Market News, Stock Advice & Trading Tips The U.S. Strategic Petroleum Reserve – the nation's emergency crude stockpile – has fallen to roughly 285 million barrels. This is its lowest level since October 1982. Here's why the West’s shrinking oil reserves are a warning investors shouldn’t ignore – and where to look as the fuel gauge keeps falling.
The US strategic oil reserves fell by about 400,000 barrels last week, reaching 284.6 million barrels, the lowest level since 1982.… US: Strategic oil reserves fell by about 400,000 barrels
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