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US Oil Reserves Hit 40-Year Low
America's emergency oil supply just dropped to its lowest level since 1983.
The United States keeps oil in giant underground caverns. This oil is for emergencies. It is called the Strategic Petroleum Reserve. This reserve is now at its lowest point in 40 years.
The reserve recently lost 6.1 million barrels of oil. It now holds 298.7 million barrels. The last time levels were this low was in January 1983.
This drop happens as global oil supply faces problems. The Middle East region sees many challenges. These events can make oil prices go up. Lower reserves can also mean higher prices at the gas pump. This affects everyday Americans.
Source: Fox Business
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