US oil reserve nears lowest level since early 1980s
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The U.S. Strategic Petroleum Reserve (SPR) has dropped to 365 million barrels, its lowest level since 1983, following large-scale releases to curb oil price spikes. Meanwhile, U.S. crude exports to Asia reached record highs in May, offsetting Middle Eastern supply disruptions. Experts warn that refilling the SPR will take years, require congressional approval, and may further drive up prices.
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