U.S. emergency oil stockpile at lowest level since Reagan Administration

(CNN)– The United States’ emergency stockpile of oil is at its lowest level in more than four decades.

The Trump Administration has used the U.S. strategic oil reserve to minimize the effects of plunging oil supplies as a result of the war with Iran.

According to federal data released tMonday, June 15, last week alone U.S. officials pulled nearly nine million barrels from oil reserves leaving just over 340-million barrels of crude.

That beats the prior low set in July 2023 under the Biden Administration after Russia invaded Ukraine.