U.S. crude in strategic reserve falls by record to lowest since May 2001, EIA says

FILE PHOTO: The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, U.S., April 27, 2020. REUTERS/Adrees Latif

(Reuters) -U.S. crude oil in the Strategic Petroleum Reserve (SPR) dropped by a record 7.0 million barrels last week to 543.0 million barrels, its lowest since May 2001, the U.S. Energy Information Administration (EIA) said on Wednesday.

The agency also said U.S. distillate stockpiles fell last week to 104.0 million barrels, their lowest since May 2005, with East Coast distillate inventories dropping to a record low of 21.3 million barrels, according to data going back to 1990.

U.S. crude output, meanwhile, slipped 100,000 barrels per day (bpd) last week to 11.8 million bpd, the first weekly decline since January, EIA said.

Reporting by Scott DiSavino and Stephanie Kelly