US Strategic Petroleum Reserve Drops to Lowest Since 1982
Bullish strength: 65/100
- The SPR has fallen to 282.6 million barrels, its lowest level since October 1982.
- Approximately 132.8 million barrels have been withdrawn since late February.
- An emergency exchange of up to 400,000 barrels was authorized to address a refinery supply disruption.
Bearish strength: 35/100
- The government is releasing oil from the reserve as part of an initiative to supply 172 million barrels.
- Emergency exchanges provide some capacity to address immediate refinery supply disruptions.
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