Trump: US oil reserves will be depleted in four weeks, EIA crude oil inventory drops more than expected

US President Trump stated at a G7 press conference that US oil reserves will be depleted in four weeks. Last week, EIA crude oil inventories in the United States fell by 8.26 million barrels, a decrease exceeding analysts' expectations of 3.69 million barrels. The inventory at the Cushing Hub has been declining for eight consecutive weeks to 20 million barrels, reaching its lowest level since 2014.