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U.S. oil reserves reach 1982 lows amid Trump response
The U.S. Strategic Petroleum Reserve has fallen to its lowest level since 1982, reaching 283 million barrels, after releasing about 800,000 barrels last week. The Trump administration is planning to issue a tender to purchase 40 million barrels of oil from the reserve, as the drawdown continues alongside plans to expand the use of tax-exempt diesel. These measures are part of efforts to combat rising energy prices ahead of the midterm elections. Trump aims to refill the reserve soon, although experts warn that the process will be long and complex, with an expected total drawdown of up to 172 million barrels over the year.
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