• The U.S. strategic oil reserve, created to protect consumers against “economically threatening” disruptions in oil supplies, is now at its lowest level in 38 years. That’s according to a review of weekly stock reports by the U.S. Energy Information Administration (EIA).
• That’s down from 638,086 barrels in Jan 2020, when President Joe Biden took office from President Donald Trump, a decline of 35 percent.
• No U.S. President has lowered the SPR by more than eight percent during their term in office.

Tagged: #Bidenflation