US Oil Reserves Plummet to Historic Lows Amidst Declining Crude Oil, Gasoline, and Diesel Stocks

Washington DC. Crude oil, gasoline, and diesel reserves in America are rapidly declining. US data shows that dependence on oil stored in strategic reserves has increased as the war with Iran prolongs. According to federal government data, commercial and emergency reserves of crude oil and energy products in the US decreased by 17.4 million barrels just before the Memorial Day weekend.

With this, seasonal US oil reserves have reached their lowest level since 2003. Data from the Energy Information Administration (EIA) shows this decline. Energy analyst Andy Lipow has warned that reserves continuing to decline at this rate is not sustainable in the long term.