Oil in U.S. Strategic Petroleum Reserve falls below 300 million barrels, lowest since 1983
The reserve dropped below 300 million barrels after the Trump administration ordered 172 million barrels released as the Strait of Hormuz stayed mostly closed.
- The Strategic Petroleum Reserve fell below 300 million barrels last week, marking its lowest level since January 1983, according to Department of Energy data released Monday.
- Traffic through the Strait of Hormuz has slowed to a trickle, with only two vessels transiting last Wednesday compared to 130–140 daily before the war, forcing Washington to tap reserves.
- The Trump administration ordered a 172 million-barrel release in March, yet stocks drain toward the 70 million-barrel operational minimum where the SPR faces critical pumping difficulties.
- President Donald Trump told Axios on Sunday that he is "low-keying" negotiations, describing the standoff as a "chess game" while monitoring Iran's economic difficulties.
- The Supreme National Security Council's secretary, Mohammad Bagher Zolghadr, demanded an end to Washington's "aggressive behavior" and the lifting of "unjust and illegal" sanctions to reopen the waterway.
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Strategic Petroleum Reserve Falls Below 300 Million Barrels, Lowest Since 1983
U.S. emergency crude oil inventories dropped by roughly 6.1 million barrels last week to 298.7 million barrels, pushing the Strategic Petroleum Reserve to its lowest ... The post Strategic Petroleum Reserve Falls Below 300 Million Barrels, Lowest Since 1983 first appeared on [your]NEWS.
Because of the oil blockade on the Persian Gulf, more and more countries are buying oil from the USA. As a result, the reserves have not been as empty as they have been for almost 40 years.
Analyst Warns "US Basically Has No Strategic Petroleum Reserve Anymore," As Reserves Just Fell Below 300 Million Barrels for the First Time Since 1983
For the first time since Ronald Reagan was in his first term, the U.S. Strategic Petroleum Reserve has collapsed below a threshold that one analyst says renders it effectively gone, and the infrastructure meant to refill it may be too broken to matter.
Which Risks Are Emerging As The US Oil Reserve Hits A 1983 Low
The U.S. Strategic Petroleum Reserve has fallen below 300 million barrels for the first time since 1983, highlighting growing pressure on America's emergency energy stockpile. According to recently released Energy Department data, the reserve fell to about 298.7 million barrels after a weekly drawdown of roughly 6.1 million barrels.The decline comes amid oil releases linked to the Iran conflict and disruptions surrounding the Strait of Hormuz. O…
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