US Strategic Petroleum Reserve Crude Inventories Fall to Lowest Level Since 1983
US Strategic Petroleum Reserve crude inventories fell by about 5.5 million barrels last week to 325.7 million barrels, marking the lowest stockpile level since May 1983, according to estimated petroleum data released Friday. The draw came as the US government slows releases from the reserve following a sustained period of lower oil prices. Sweet crude inventories declined by 2.9 million barrels, while sour crude dropped by 2.7 million barrels.
The weekly estimate indicates that total crude stock fell by 13.82 million barrels, including a commercial draw of 8.32 million barrels. The reduction in Strategic Petroleum Reserve withdrawals aligns with a scheduled ramp-down in the reserve's release program, which began earlier this year to cap domestic energy costs. Commercial crude draws are projected to slow further in July as the government approaches the end of its distribution timeline.
From the sources (14 posts)
@staunovoUS SPR crude inventories fell by ~5.5mb w/w to a multi year low of 325.7mb last week #oott Sour down ~2.7mb to 205.5mb Sweet down ~2.9mb to 120.9mb
@financialjuice🔴 Stocks of crude oil in US SPR fall by about 5.5 mln to 325.7 mln barrels last week, lowest since 1983
@hfi_researchFinal crude estimate for June 26 week. Total crude draw of 13.82 million bbls. Commercial crude draw of 8.32 million bbls as SPR release slows down to 5.5 million bbls. This pace is expected over the coming weeks as SPR release is almost
@tomklozaSmaller withdrawals of crude from the Strategic Petroleum Reserve last week. Now holds 225.7-million barrels thanks to a 2.9-million barrel draw in sweet inventory and a 2.7-million barrel decline in sour crude.
@gasbuddyguyU.S. SPR releases drastically slow after oil prices plummet, but still reach a new multi-decade low (since May 1983)
@oilheadlinenewsUS SPR crude inventories fell by ~5.5mb w/w to a multi year low of 325.7mb last week @staunovo
@firstsquawkU.S. SPR CRUDE OIL STOCKPILES PLUNGE 5.5 MLN BARRELS TO 325.7 MLN BARRELS, LOWEST LEVEL SINCE 1983
@zerohedgeRT @staunovo: US SPR crude inventories fell by ~5.5mb w/w to a multi year low of 325.7mb last week #oott Sour down ~2.7mb to 205.5mb…
@macroedgeresUS SPR crude inventories fell by ~5.5mb w/w #MacroEdge
@hfi_researchCrude draws will slow in July, but the pace is still on track.
@unusual_whalesBREAKING: The Strategic Petroleum Reserve is at its lowest level since 1983
@staunovoRT @HFI_Research: Final crude estimate for June 26 week. Total crude draw of 13.82 million bbls. Commercial crude draw of 8.32 million bbl…
@staunovoRT @GasBuddyGuy: U.S. SPR releases drastically slow after oil prices plummet, but still reach a new multi-decade low (since May 1983)
@staunovoRT @HFI_Research: Crude draws will slow in July, but the pace is still on track.