Strategic Petroleum Reserve hits lowest level since 1982
The Strategic Petroleum Reserve hit the lowest level in 44 years last week, as the Trump administration continues to release crude oil to prevent prices of products such as gasoline from surging even further, as global oil supplies remain strained.
TL;DR
- The Strategic Petroleum Reserve is at its lowest level in 44 years.
- The Trump administration is releasing crude oil from the reserve.
- These releases aim to prevent further surges in gasoline prices.
- Global oil supplies are currently strained.
- 3.7 million barrels were released last week.
- Inventories fell to their lowest point since early December 1982.