4 Days
Source:
CNN Arabic
US oil stocks amid Ukraine and Iran conflicts
The United States' Strategic Petroleum Reserve has decreased to its lowest level in over 40 years, reaching 340.3 million barrels after a withdrawal of 8.9 million barrels in just one week. This is below the lowest point recorded in July 2023. This decline in stockpiles comes amid ongoing reliance on the reserve to cope with the repercussions of the war with Iran and to mitigate the impact of rising energy prices on the U.S. economy. Two consecutive wars have significantly depleted the reserve, which has decreased by 18% since the war with Iran began in February.
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