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US SPR hits lowest level since 1983
The U.S. Strategic Petroleum Reserve has fallen to its lowest level since 1983, due to the large withdrawals made to compensate for global supply disruptions following the United States and Israel's attacks on Iran in February 2026, which led to the loss of about 20 million barrels of oil per day through the Strait of Hormuz. The reserve stood at 304.809 million barrels at the end of July, falling below the minimum level in four decades. Meanwhile, the United States continues to draw down its stocks, with projections indicating the reserve could decrease to around 243 million barrels if the program is fully implemented, marking the lowest level since data collection began in 1982.
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