Saturday, Apr 20 2024 | Time 21:32 Hrs(IST)
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World


US strategic petroleum reserve hits lowest level in 35 years

Washington, May 17 (UNI/Sputnik) The amount of crude oil stored for emergency use in the United States has hit a 35-year bottom as holdings in the Strategic Petroleum Reserve (SPR) have plummeted from withdrawals made by the Biden administration to plug supply deficits, data from the US Energy Department showed.
Crude holdings in the SPR dropped by 5 million barrels during the week to May 13, reaching 538 million barrels, according to latest data on stockpiles in the reserve issued by the Energy Department.
Historical SPR data showed that to be the lowest level since 1987 for emergency crude stockpiles in the United States.
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