US strategic oil reserve hits lowest level since 1983

WASHINGTON, (UrduPoint / Pakistan Point News / WAM - 16th Jun, 2026) Stocks of crude oil in the US Strategic Petroleum Reserve fell to 340.3 million barrels, the lowest level since 1983, ​according to data from the Department of Energy on Monday.

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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 US agreement to loan 172 million barrels from ⁠the facility to help push down fuel prices, which surged in recent months ​to multi-year highs.