US Strategic Petroleum Reserve fell to 282.7M barrels (lowest since 1982), down 32% since March with commercial crude stocks also at multi-month lows.
Macro & Markets ·
The US Strategic Petroleum Reserve declined to 282.7 million barrels, its lowest level since October 1982, following a weekly drawdown of 300,000 barrels. Since mid-March, SPR inventories have fallen 132.8 million barrels, or 32 percent, with drawdowns occurring in 29 of the past 30 weeks. Commercial crude oil stocks excluding the SPR reached 412.5 million barrels, roughly 3 percent below the five-year average for this period. SPR levels stand 131 percent below 2020 stockpiles of 653.9 million barrels.