Crude oil in U.S. emergency reserve falls by 1.58 million barrels

HOUSTON, April 17 (Reuters) - Crude oil stored in the U.S. Strategic Petroleum Reserve fell by 1.58 million barrels last week to its lowest since in nearly 40 years, data from the Department of Energy showed, on a mandated sale of oil from the emergency stash.

Stocks in the SPR fell to 368 million barrels in the week to April 14, its lowest level since Oct 1983, based on DOE and Energy Information Administration data.

The Biden administration this year has sold 26 million barrels of crude from the reserve through release mandated by Congress in previous years.
(Reporting by Arathy Somasekhar in Houston)

@ArathySom;))

Reuters

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Crude oil in U.S. emergency reserve falls by 1.58 million barrels

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