US strategic reserves at 1983 low
The U.S. strategic oil reserves have decreased by 5.5 million barrels, reaching 326 million barrels, the lowest level since May 1983. This marks the 13th consecutive decline, with a total depletion of 89 million barrels over the period. The reserves continue to decline at an unprecedented rate, reflecting intense consumption as part of a cost-cutting program to manage energy prices.
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