Quartz·1 min read·medium

The U.S. emergency oil reserve is below 300 million barrels for the first time since 1983

Cris Tolomia
AI Summary

The U.S. Strategic Petroleum Reserve has dropped below 300 million barrels for the first time since 1983. This decline is attributed to ongoing oil withdrawals linked to the conflict in Iran.

The SPR shed 6.1 million barrels last week, reaching its lowest level since January 1983 amid ongoing withdrawals tied to the Iran war

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