US Strategic Oil Reserves Hit Lowest Level Since December 1982

According to the International Desk of Webangah News Agency, U.S. strategic oil reserves have reached their lowest level since December 1982. Data released by Mehr News Agency, citing Al Jazeera, indicates that the U.S. Department of Energy acknowledged the nation’s strategic oil reserves decreased to 293.4 million barrels by the end of last week, local time.

This level of strategic oil reserves marks the lowest point recorded since December 1982. The report also references a move by then-President Donald Trump in March, who issued an order to release 172 million barrels of oil. This action was reportedly taken after what the source describes as an “American-Zionist aggression” against Iran, which led to insecurity in the Strait of Hormuz and caused the largest disruption to crude oil supply in history.