US strategic oil inventories fall sharply

The US Department of Energy reported that the country’s strategic oil reserves fell by 3.6 million barrels over the week, amounting to 378.6 million barrels as of December 16, Report informs, citing foreign media sources.

Weekly surveys by the US Department of Energy’s Department of Information show that the US Strategic Oil Index fell to its lowest level ever recorded on December 30, 1983, when US Strategic Oil Reserves stood at 378.3 million barrels.