US oil reserve hits 44-year-low amid Iran war, global energy shortage
The reserve fell by more than 3 million barrels last week as emergency releases continued to offset supply disruptions and support fuel inventories.
- The Strategic Petroleum Reserve fell 3.1 million barrels last week to 286.6 million barrels, marking the lowest level since the early 1980s amid ongoing tensions with Iran.
- Efforts to negate the closure of the Strait of Hormuz have cost the United States more than 120 million barrels in storage throughout 2026, as refineries operate near full capacity during the war.
- America's oil reserves, held in underground salt caverns in Texas and Louisiana, face escalated structural risks as inventory levels drop below 300 million barrels, experts warn.
- President Donald Trump is touting a deal to control 17 Venezuelan oilfields that would potentially boost output by 1.5 million barrels per day to stabilize energy markets.
- Analysts at Jefferies warn that legal and execution risks remain high, with any major production uplift from these oilfields likely years away and unable to address immediate supply shortages.
25 Articles
25 Articles
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…
Oil reserve measure filed in Senate - BusinessWorld Online
SENATOR Lorna Regina B. Legarda has filed a bill authorizing the government to perform measures preventing energy market abuse by allowing the Department of Energy (DoE) to examine fuel inventories and prescribe temporary pricing during fuel emergencies. “Monitoring is different from regulating. In normal times, the DoE must know the true state of supply, costs, […]
The US oil reserve continues to shrink. Trump encounters legal and technical limits when additional approvals are made, while Venezuela's oil can hardly help in the short term.
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