According to information released by the US side, the Trump administration is continuing the large-scale release of crude oil from the US Strategic Petroleum Reserve to mitigate the energy supply crisis triggered by the US-Iran conflict and the closure of the Strait of Hormuz.
Data published by the US Department of Energy on June 1 shows that the Strategic Petroleum Reserve was drawn down by 8 million barrels of crude oil last week. This follows reductions of 9.1 million barrels and a record 9.9 million barrels in the two preceding weeks, respectively.
As a result, total inventory in the Strategic Petroleum Reserve has now fallen to 357.1 million barrels, marking its lowest level since January 2024.
Relevant experts indicate that, at the current pace of release, the reserve could drop below the low point seen during the Biden administration as early as next week, reaching its lowest level since 1983.
Since the onset of the latest US-Iran conflict, the United States has released a cumulative total of approximately 58 million barrels of crude oil, accounting for roughly 14% of the Strategic Petroleum Reserve's total capacity.
Analysis suggests that the ongoing drawdown will weaken the nation's ability to respond to sudden supply disruptions, such as those potentially caused by the upcoming hurricane season.
Comments