U.S. Strategic Petroleum Reserve Falls to Lowest Level Since 1983 After Planned Release

U.S. emergency crude oil stockpiles have fallen to their lowest level since 1983 as the Trump administration nears completion of a plan to release 172 million barrels from the Strategic Petroleum Reserve (SPR) to ease a surge in fuel prices linked to the Iran war. According to Jin10, U.S. Department of Energy data released on Monday showed the SPR had declined to about 340 million barrels, near its historical low. The reserve was created in the early 1970s after the Arab oil embargo. If the release plan is completed, it would be the second-largest drawdown in the reserve’s history, leaving about 243 million barrels, or roughly one-third of its statutory capacity. The shrinking inventory reduces U.S. flexibility to respond to future supply disruptions. A Department of Energy spokesperson said the government is managing the reserve for its intended purpose: helping stabilize oil markets, protecting the United States from supply disruptions, and improving U.S. energy security.