The Kobeissi Letter(@KobeissiLetter):BREAKING: The Strategic Petroleum Reserve (SPR) fell -403,000 barrels last week, to 285 million barrels, its lowest since November 1982. This marks the 25th consecutive weekly decline, the longest streak since the 2021-2023 period. Over this time, US oil inventories in the SPR have dropped -131 million barrels, or -46%. To put this into perspective, oil reserves in the SPR stood at 650 million barrels in 2020, or +128% above the current levels. Meanwhile, commercial crude oil stocks excluding the SPR declined -640,000 barrels last week, to 423.4 million barrels, the lowest reading since the end of July. America's oil reserves are running dangerously low.

2026.09.17 15:45

BREAKING: The Strategic Petroleum Reserve (SPR) fell -403,000 barrels last week, to 285 million barrels, its lowest since November 1982. This marks the 25th consecutive weekly decline, the longest streak since the 2021-2023 period. Over this time, US oil inventories in the SPR have dropped -131 million barrels, or -46%. To put this into perspective, oil reserves in the SPR stood at 650 million barrels in 2020, or +128% above the current levels. Meanwhile, commercial crude oil stocks excluding the SPR declined -640,000 barrels last week, to 423.4 million barrels, the lowest reading since the end of July. America's oil reserves are running dangerously low.