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US oil exports plummet on stretched inventories, flat production

Nikkei Asia · last updated
Commodities

US oil exports plummet on stretched inventories, flat production

Trump’s move to fight high gas prices ahead of midterms further strains reserves

Crude oil storage tanks in the U.S. state of Oklahoma. The country’s Strategic Petroleum Reserve has fallen to its lowest level in 43 years. © Reuters

HOUSTON, Texas — U.S. crude oil exports have dropped amid continuing uncertainty over the Iran conflict, potentially impacting importers such as Japan that had sought alternatives to Middle East procurement.

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