US oil exports plummet on stretched inventories, flat production

CommoditiesTrump's move to fight high gas prices ahead of midterms further strains reservesCrude 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. © ReutersYUJI OHIRAAugust 6, 2026 06:48 JSTHOUSTON, 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.