Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell to 283 million barrels last week, the lowest level since October 1982, according to data from the Department of Energy.
The drawdowns are part of a U.S. agreement to release 172 million barrels from the facility. Additionally, the Trump administration last week said it is offering to loan energy companies 40 million barrels of oil from the Strategic Petroleum Reserve.
(Reporting by Noel John in Bengaluru)