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Russian Ministry of Defense: 37 Ukrainian drones destroyed in 4 hours over regions of Russia and the Black Sea.
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
Sheikh Qassem: We will not abandon our arms, for they gave us dignity; we will not abandon our arms, for they protect us against our enemy.
Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.
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US crude reserves at 20-year low

  • By Al Mayadeen Net
  • Source: Agencies
  • 4 May 2022 22:23
  • 1 Shares
2 Min Read

The US' stockpile in petroleum reserves is at its lowest level in 20 years as the Biden administration continues to make withdrawals.

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  • Crude oil storage tanks at a refinery in Texas City, Texas, in April 2020 (New York Times)
    Crude oil storage tanks at a refinery in Texas City, Texas, in April 2020 (New York Times)

The Energy Information Administration's (EIA) data revealed on Wednesday that the US Strategic Petroleum Reserve's (SPR) stockpile is at its lowest level in 20 years.

The Biden administration is still making withdrawals from the SPR to feed a market starved for supply, with SPR inventories at 550 million barrels as of the week that ended on April 29.

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Three million barrels have been taken out on average from the SPR on a weekly basis over the past two months to allow domestic refiners' demand for crude to be met. 

Western sanctions on Russia, which have been increasing ever since the war on Ukraine began on February 24, have impeded oil supply deliveries around the world from one of the world's largest producers.

“The SPR stock situation is likely to continue dropping in the foreseeable future unless the global supply situation for oil gets better,” John Kilduff, a partner at New York energy hedge fund Again Capital, said. 

The first major SPR withdrawal was authorized by Biden in November with oil supplies tightening as demand recovered rapidly from Covid lockdowns. However, the largest SPR releases will begin in April, with a total of 180 million barrels being issued from the reserves, with another 60 million due to be released by US allies.

  • United States
  • Biden administration
  • Petroleum
  • US
  • Petroleum reserves
  • The Biden Administration
  • Biden's administration

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