The United States' Strategic Petroleum Reserve continued to decline, reaching 279.5 million barrels at the end of the week ending November 6, marking its lowest level since October 1982, according to US Department of Energy data.
Historical records show that the last time reserves fell below this level was during the week ending October 8, 1982, when they stood at 278.725 million barrels.
On November 4, the US Energy Information Administration reported that strategic oil stocks had dropped to 282.184 million barrels for the week ending October 30, representing a decrease of 399,000 barrels from the previous week.
The continued decline comes amid ongoing oil withdrawals carried out by Washington under a plan announced by US President Donald Trump last March. The initiative предусматриes releasing 172 million barrels from strategic reserves as part of a coordinated International Energy Agency effort to supply 400 million barrels to global markets.
On October 29, the US Department of Energy announced new exchange agreements covering more than 40 million barrels of crude oil, confirming that contracts related to the planned release of 172 million barrels had been finalized.
The department added that the exchange agreements secure the return of more than 216 million barrels to the reserve starting in early 2027, including an additional 44 million barrels valued at more than $4 billion.
