US Oil Reserves Hit 44-Year Low Amid Iran Conflict

The United States Strategic Petroleum Reserve (SPR) has fallen to 283.8 million barrels as of September 25, 2026, marking the lowest level since October 1982. To combat surging fuel prices ahead of midterm elections, the United States Department of Energy ordered the release of up to 40 million barrels of oil. This action serves as the final installment of a 172-million-barrel contribution to a coordinated global effort to stabilize markets following the U.S.-Israeli war on Iran and shipping disruptions in the Strait of Hormuz.

The stockpile has decreased by approximately 32% since March. Current levels are now approaching the federal legal minimum of 252 million barrels and the operational minimum range of 250-300 million barrels. While the Department of Energy expects 200 million barrels to eventually return through exchange programs, the Government Accountability Office reported in June that construction and outages left over a quarter of the reserve inaccessible as of December 2025.

President Donald Trump claimed on Sunday that oil shipments through the Strait of Hormuz reached record levels and predicted that crude prices will drop once the conflict ends. The administration has also urged European nations to release oil from their own emergency reserves to further mitigate price increases.