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Here's what to know about US oil reserves

Updated Mar 11, 2026: Tensions after U.S.-Israeli strikes in Iran have disrupted global oil supplies and U.S. Strategic Petroleum Reserve levels near historic lows at 413 million barrels.
U.S. presidents' decisions to release oil have drained the SPR, with a 2023 release of 180 million barrels leaving it at a record low of 3.5 million barrels.
EIA figures indicate in recent years, U.S. crude inventory excluding the SPR was about 439.3 million barrels as of the week ending March 11, 2026, while consumption was about 20.25 million barrels per day in 2023.
Questions about U.S. emergency oil supplies have risen as low SPR levels raise concerns, while IEA members hold over 1.2 billion barrels and commercial investors hold 600 million barrels.
Created in 1975, the SPR was established after the Arab oil embargo and under the EPCA of 1975, the reserve aimed for up to one billion barrels but peaked at 726 million barrels in 2009.

Insights by Ground AI