This is not fresh news, just doing a bit of catch up reading

Via Bloomberg:

  • U.S. strategic crude stockpiles have dropped to the lowest level in more than 12 years
  • The shale boom reduces the nation's need for an emergency buffer against shortages
  • Inventories declined by about 13 million barrels over 17 consecutive weeks


These drawdowns won't end any time soon. The Trump administration has plans to sell another 270 million barrels of crude from the SPR over the next decade to help reduce the country's debts. This is over and above the 190 million-barrel sale planned for 2018-2025.