EIA: U.S. Strategic Petroleum Reserve Hits 23-Year Low


   
Maria Eugenia Garcia
DTN Energy Editor

   HOUSTON, TX (DTN)--The U.S. Strategic Petroleum Reserve (SPR) fell 6.1 
million bbl , or 2%, week-over-week to 298.7 million bbl for the week ending 
August 7, according to the U.S. Energy Information Administration's (EIA) 
Weekly Petroleum Status Report released Wednesday (8/12).

   This was the lowest level since January 28,1983, when it was at 298.4 
million bbl, EIA data showed.

   Year-over-year, the SPR dropped 104.5 million bbl, or nearly 26%, from 403.2 
million bbl, highlighting the scale of ongoing government drawdowns aimed at 
mitigating crude oil and refined products shortage resulting from the Middle 
East conflict and the closure of the Strait of Hormuz.

   Total U.S. crude oil stocks, including both commercial inventories and the 
SPR, stood at 723.1 million bbl, up 11.3 million bbl week-over-week. Commercial 
crude stocks, excluding the SPR, rose 17.4 million bbl to 424.4 million bbl in 
the same period.

    




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