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Oil Stocks in US Strategic Petroleum Reserve Fall by 3.7 Million Barrels to Lowest Level Since 1983

Business & Policy
July 28, 2026

(Reuters) – Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by about 3.7 million barrels to 307.7 million barrels last week, the lowest level since March 1983, according to data from the Department of Energy.

The drawdowns are part of a U.S. agreement to release 172 million barrels from the facility.

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Reporting by Arathy Somasekhar in Houston Editing by Nick Zieminski