The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, U.S., April 27, 2020. REUTERS/Adrees Latif
FOX News: US emergency oil stockpiles drop to lowest level since 1983 as gas prices tick up
Keeping emergency oil stockpile levels high is important for U.S. 'energy security and national security,' GOP lawmakers have warned
The Strategic Petroleum Reserve (SPR) fell to its lowest level since 1983 last week as U.S. gasoline prices and oil prices ticked up, according to federal data released Wednesday.
The level of the SPR — an emergency stockpile of crude oil managed by the Department of Energy (DOE) — declined to 375.1 million barrels last week, marking the first time it has fallen below 378 million barrels since December 1983, according to the Energy Information Administration. Prior to last week, the reserve's lowest level since 1983 was recorded on Dec. 30, 1983, when it hit 378.3 million barrels.
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WNU Editor: With much fanfare it was almost two weeks ago that the announcements was made that the US was going to replenish their oil stocks .... DOE Announces Repurchase of Oil for the Strategic Petroleum Reserve (Energy.gov).
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