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US oil exports hit 8-month low in July
U.S. oil exports in July declined to their lowest level in eight months, reaching 3.66 million barrels per day. Shipments to Japan dropped by 67%, while exports to South Korea increased by 39%. Europe also saw a decrease from 2.5 million to 1.7 million barrels per day. This decline follows record exports in May, which amounted to 5.7 million barrels per day, reflecting reduced demand in Asian and European markets.
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