The US Strategic Petroleum Reserve (SPR) dropped to 308 million barrels (-3.8M last week), the lowest since March 1983. Its the 18th straight weekly decline; SPR has fallen 108M barrels (-26%) recently. Commercial crude stocks also hit lows.https://www.oilpriceapi.com/data/inventory/sprhttps://www.eia.gov/dnav/pet/pet_stoc_wstk_a_epc0_sas_mbbl_w.htmThe growing depletion is caused by huge releases (another 172M barrels planned) to offset Iran war disruptions, especially Strait of Hormuz issues affecting 20% of global oil flows.If war lasts longer (prolonged disruption) it will push oil prices ($100-150+/bbl. This will cause global inflation, widespread recession risks, higher fuel and goods costs, strained buffers (SPR already low), supply chain issues, and energy security concerns. US is somewhat shielded by domestic production but still faces higher prices as an oil net importer.
>>539990501>the lowest since March 1983If you search "lowest since 1983" in the archive you see that complaints containing this exact phrase start in 2023, even 2022, never change and only intensify in frequency. What do you think it means?
US crude exports to Japan just went vertical. For 3 decades, this line barely moved above 200,000 barrels a day. It just spiked past 1.1 million. Japan cannot rely on Middle East and Russian supply right now, so they are turning to the US Gulf Coast instead. American reserves are not unlimited tho xD
>>539990977Heading towards 1982 according to CBS.
