Stocks of Oil in US Strategic Petroleum Reserve Falls to Lowest Since 1983
The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, U.S., April 27, 2020. (Reuters File)
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Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell to 340.3 million barrels, the lowest level since 1983, according to data from the Department of Energy.
Inventories in the government’s emergency stash fell by 8.9 million barrels, the third steepest draw on record. The drawdowns are a part of a U.S. agreement to release 172 million barrels from the facility.
(Reporting by Arathy Somasekhar in Houston)
