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US Strategic Oil Reserve Reaches 1982 Low
The U.S. Strategic Petroleum Reserve (SPR) has decreased to approximately 283.8 million barrels, the lowest level since October 1982. This decline resulted from an emergency drawdown coordinated with the International Energy Agency to ensure market supplies amid geopolitical tensions and disruptions in oil shipping through the Gulf region, especially via the Strait of Hormuz. The draw, amounting to about 172 million barrels, helped stabilize energy markets despite the U.S. stockpiles losing more than 120 million barrels since the beginning of the year. It is expected that restoring the reserves will take up to two years.
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