US Strategic Petroleum Reserve Drained to Multi-Decade Lows

Trump once slammed Biden for touching US oil reserves, now he's draining it: Report

The U.S. is drawing heavily from its Strategic Petroleum Reserve, releasing approximately 50 million barrels since the conflict with Iran began. These withdrawals are pushing emergency oil stockpiles to multi-decade lows, with significant amounts being exported. Analysts warn this depletion necessitates future replacements, potentially leading to higher prices globally.

By TOI BUSINESS DESK