U.S. crude oil stocks hit historic low since 1983
05:38, 16 June 2026
The US Strategic Petroleum Reserve’s crude oil stocks decreased to 340.3 million barrels, the lowest since 1983, according to Department of Energy data released on Monday, Qazinform News Agency cites WAM.
The government’s emergency stash inventories decreased by 8.9 million barrels, marking the third steepest draw on record.
The drawdowns are part of a US agreement to borrow 172 million barrels from the facility to help reduce fuel prices, which recently surged to multi-year highs.
Earlier, Qazinform News Agency reported that markets shifted sharply late Sunday and into Monday after news of a peace agreement between Washington and Tehran, brokered by Pakistan.
