The United States crude oil stock has historically declined to 712 million barrels, the lowest level since March 1984

According to the news of 9 August, the United States crude oil stock is going through an unprecedented decline: total stock has been declining for 17 consecutive weeks, the longest cycle of decline ever recorded. This figure exceeds the 16-week consecutive decline recorded in 2021. Since early April, the total stock of crude oil has fallen by 166 million barrels to 712 million barrels, the lowest level since March 1984. The United States strategic oil reserve stock alone has decreased from 111 million barrels in March to 305 million barrels, the lowest level since February 1983. At the same time, United States oil stocks have declined for 10 consecutive weeks, a situation that is consistent with the records of 2018。