Oil Market Faces Rapid Inventory Drawdown Amid Supply Disruption
The U.S. oil market is experiencing a sharp decline in commercial crude inventories over the past five weeks, with emergency reserves being heavily tapped to offset the drop. Commercial stocks have fallen by 25 million barrels while Strategic Petroleum Reserve (SPR) withdrawals of nearly 18.5 million barrels were recorded for two consecutive weeks—the largest on record—masking a potential deeper supply crunch.
Topics: inventories oil Strategic Petroleum Reserve supply crunch