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Emergency Oil Reserves Fall to Lowest Level Since 1984

FILE PHOTO: U.S. President Joe Biden delivers remarks on the U.S. economy from an auditorium on the White House campus in Washington, U.S. October 26, 2022. REUTERS/Jonathan Ernst
• November 23, 2022 12:20 pm

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(Reuters)—U.S. crude oil stocks in the Strategic Petroleum Reserve fell by 1.6 million barrels in the latest week to 390.5 million barrels, the lowest level since March 1984, the Energy Information Administration said Wednesday.

U.S. East Coast gasoline stocks fell in the period to 47.1 million barrels, the lowest level since November 2012, while refinery utilization in the region rose to 102.9%, the highest on record.

(Reporting by Laura Sanicola)