US emergency oil stockpile tumbles to lowest since the Reagan administration
The exchange program could save taxpayers more than $3 billion as the reserve is refilled with about 200 million barrels within a year.
- The U.S. Strategic Petroleum Reserve plunged to 340.3 million barrels for the week ending June 12, according to newly released data from the Department of Energy.
- The drawdown marks the lowest emergency stockpile level since July 1983, a multi-decade low dating back to when the Reagan administration was still actively filling the reserve for the first time.
- The Trump administration aggressively drained 75 million barrels—roughly 18% of the total reserve—since late February to counter severe energy market shocks sparked by the war with Iran and the near-total closure of the Strait of Hormuz.
- A massive release of 8.9 million barrels last week alone officially wiped out the prior modern low set in July 2023 under President Joe Biden during the supply disruptions of the Russia-Ukraine war.
- Energy sector experts are sounding alarms over operational safety limits, warning that the emergency buffer is now less than half full and rapidly approaching the 20% minimum threshold required for the system to physically operate.
27 Articles
27 Articles
Strategic Petroleum Reserve Falls to 43-Year Low
America's emergency oil stash hasn't been this lean since the early Reagan years. According to federal data released Monday, the Strategic Petroleum Reserve now holds 340.3 million barrels, its lowest level since 1983 and less than half its 714-million-barrel capacity, the Hill reports. The drawdown has been years in...
The amount of oil in the U.S. Strategic Petroleum Reserve (SPR) plummeted last week to its lowest level since 1983, as the Trump administration continues to deploy emergency oil to…
U.S. Oil Emergency Reserve Reaches Reagan-Era Levels
The United States Strategic Petroleum Reserve has fallen to its lowest level in more than four decades, highlighting growing concerns about the nation's emergency energy buffer amid ongoing volatility in global oil markets. According to newly released Department of Energy data, the reserve stood at approximately 340.3 million barrels for the week ending June 12. 💡The figure represents the smallest volume held in the emergency stockpile since 19…
In the course of the Iran war, the US is making massive use of its emergency oil reserves, which has reduced the strategic reserve to the lowest level in over four decades.
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