The US Department of Energy (DoE) said it sold an additional 1.6 million barrels of Strategic Petroleum Reserve (SPR) crude oil on the market last week.
The announcement marks three consecutive weeks of selling and brings total reserves to 368 million barrels, the lowest since October 28, 1983.
The negotiations, which led to the sale of 4 million barrels over the past three weeks, are part of a 2015 Congressional commitment to sell 26 million barrels this year.
So the volume sold so far suggests Washington has around 22 million barrels of oil left to sell and should complete the transactions by June 30th.