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US Strategic Petroleum Reserve Stocks Drop to 293.4 Million Barrels, DOE Says

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The US Department of Energy's Strategic Petroleum Reserve data released Monday showed SPR inventory levels as of Aug. 14 stood at 293.4 million barrels.

This marks a decline of 5.3 mmbbls, down from 298.7 mmbbls reported by the US Energy Information Administration for the week ended Aug. 7.

Of the total, sour crude stocks were at 192.5 mmbbls, while sweet crude levels were at 100.9 mmbbls.

SPR stockpiles are at their lowest level since 1982, according to EIA data.

The decline reflects the Trump administration's ongoing move to release 172 mmbbls of oil, part of a coordinated worldwide effort by nations following the US-Israel joint campaign on Iran in late February.

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