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(LONE STAR STANDARD) – The U.S. strategic oil reserve, created to protect consumers against “economically threatening” disruptions in oil supplies, is now at its lowest level in 38 years.
That’s according to a review of weekly stock reports by the U.S. Energy Information Administration (EIA).
The Strategic Petroleum Reserve (SPR) held 416,389 barrels of crude oil as of Sept. 30, according to the EIA. That’s down from 638,086 barrels in Jan 2020, when President Joe Biden took office from President Donald Trump, a decline of 35 percent.