Post by Augustine Chiagozie (@pabloexchange)

๐Ÿ“‰ U.S. oil reserve falls to its lowest level since 1983

The Strategic Petroleum Reserve has dropped to 311.4 million barrels, its lowest level in more than 40 years, after the release of 172 million barrels to help stabilize energy prices during the Iran conflict.

In 2020, Donald Trump proposed spending $3 billion to buy 77 million barrels when oil traded at $20-30 per barrel. The plan was never approved by Congress.
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With oil prices climbing again, the U.S. now has far less room to respond to future supply shocks.

๐Ÿ“‰ U.S. oil reserve falls to its lowest level since 1983 The Strategic Petroleum Reserve has droppe...

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