US Crude Oil Reserves Decline to Lowest Level Since 1983

Crude oil inventories in the US reserve decreased by about three million barrels, reaching 316.5 million barrels—the lowest level since April 1983—as part of a plan to draw down 172 million barrels from the stockpile. Since the onset of the US-Iran conflict in February, reserve stocks have shrunk by 98.9 million barrels, and overall have declined by 123.9 million barrels to 730.8 million barrels, marking the lowest level since 1984.

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