The Kobeissi Letter
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Joined June 2015
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BREAKING: Inventories in the US Strategic Petroleum Reserve fell by ~800,000 barrels last week, to 283.8 million barrels, the lowest level since 1982.
This marks the 27th consecutive weekly decline, putting inventories down more than -132 million barrels from their high.
Meanwhile, the Trump Administration is now offering up to 40 million barrels of crude oil from the SPR, which would could drive total inventories below 250 million barrels.
America's oil reserves are running near their lowest levels in history.
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