Stocks of crude oil in the US Strategic Petroleum Reserve fell to 282.6 million barrels last week, the lowest level since October 1982, Reuters reports citing data from the Department of Energy.
The recent drawdowns have been part of a US agreement to release 172 million barrels from the facility.
Additionally, the US Department of Energy says it has authorised an emergency exchange of up to 400,000 barrels of crude oil from the Strategic Petroleum Reserve to address a supply disruption affecting Phillips 66’s Lake Charles refinery in Louisiana.
