Can I Compress PST Without Archiving Old Emails?

[Client norareed]

My Outlook PST file has grown really large, and it is starting to slow down my Outlook performance. I know that archiving old emails can help reduce the file size, but I do not want to move or delete any of my old emails because I still need them accessible in the same PST file. Is there a way to compress or compact the PST file without archiving old emails? If yes, what is the best method or tool to do this without losing any data?