U.S. Emergency Oil Reserve Falls to Lowest Level Since 1982

America’s emergency oil stockpile has fallen to its lowest level in more than four decades.
The U.S. Strategic Petroleum Reserve dropped by another 5.3 million barrels last week to roughly 293.4 million barrels.
That is the lowest level since December 1982.
The drawdown is part of Washington’s commitment to release 172 million barrels from the SPR as disruptions surrounding the Iran war and the Strait of Hormuz continue to strain global energy supplies.
Before the emergency release began, the reserve held roughly 415 million barrels.
If the full 172 million barrels are ultimately delivered, SPR inventories could temporarily fall toward 243 million barrels — potentially the lowest level since the reserve was created.
That would also take inventories below the 252.4 million-barrel threshold that restricts certain types of limited SPR drawdowns under U.S. law.
Releasing reserves can soften an immediate oil supply shock.
But the deeper the drawdown becomes, the smaller America’s emergency buffer is if another major disruption hits before those barrels are returned.