The United States Strategic Petroleum Reserve (SPR) decreased by 300,000 barrels last week, bringing the total inventory to 282.7 million barrels. This volume represents the lowest stockpile level recorded for the reserve since October 1982.
Since March 20, domestic oil inventories within the SPR have plummeted by 132.8 million barrels, which constitutes a 32% total reduction. This sustained decline is highlighted by the fact that the reserve has experienced drawdowns in 29 of the most recent 30 weeks.