Fox News reported Monday that US oil reserves have fallen to a 40-year low, the lowest level since 1983. The report follows earlier data showing a decline in US crude inventories to 43 days of consumption, as The Zioneer reported earlier today.
A Fox News report Monday evening said US oil reserves have fallen to a 40-year low, the lowest level since 1983. The decline extends a trend documented earlier today by The Zioneer, which reported that total US crude inventories, including the Strategic Petroleum Reserve, had dropped to an equivalent of 43 days of consumption — the lowest in 45 years. The new report does not specify the exact barrel figure but underscores the sustained drawdown of US stockpiles amid shifting global supply dynamics. The data follows a period of volatility in oil prices, including a decline below $70 per barrel in late June after the US-Iran agreement and expectations of increased Iranian exports.
3 developments
- DevelopingUS emergency oil reserves fall to 311.5 million barrels, lowest since March 1983
- DevelopingUS Strategic Petroleum Reserve continues to hit new lows, drawdown pace slows
- DevelopingUS oil benchmark falls below $70 for first time since war began
- StrongOil price falls again, extending recent volatility
Source and signal
- Open-source intake