U.S. oil reserves hit four-decade low
The United States' strategic petroleum reserve has fallen to its lowest level since 1983, decreasing by approximately 75 million barrels, or 18 percent, to reach 340.3 million barrels. This decline is due to ongoing withdrawals amid the war with Iran and rising energy prices. This is the lowest level since July 1983, as the US administration continues to draw from the reserve to support market stability and mitigate the impact of regional tensions.
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