US Oil Reserve Hits 1982 Low
The U.S. Strategic Petroleum Reserve has decreased by 1.2 million barrels to reach 285.4 million barrels, marking its lowest level since 1982, as part of efforts to release 172 million barrels to alleviate tension in the energy market. President Donald Trump announced an urgent plan to refill the reserve using Venezuelan oil supplies, signing a historic agreement with Caracas that includes the acquisition of over 65 billion barrels of crude reserves to bolster U.S. stockpiles and reduce fuel prices. The interim Venezuelan President confirmed that the agreement will help revive the country's economy and improve its oil infrastructure.
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