US oil reserves drop to their lowest level in 44 years

Pars Today – A US media outlet has reported that America’s oil reserves have declined to their lowest level in 44 years.

According to Pars Today, CBS News announced that US President Donald Trump, following the closure of the Strait of Hormuz by Iran and the ensuing energy crisis, ordered the release of 172 million barrels of crude oil from the United States’ Strategic Petroleum Reserve.
CBS’s analysis of data from the US Department of Energy shows that this decision has significantly depleted the country’s oil reserves.
Meanwhile, member states of the International Energy Agency, in response to surging gasoline prices after the US and Israeli assault on Iran, agreed to release approximately 400 million barrels of oil from their own strategic reserves in an effort to ease pressure on global energy markets.
After the US–Israeli attack on Iran, the Islamic Republic closed the Strait of Hormuz—one of the world’s most vital waterways—an act that has led to a sharp increase in global oil prices.