U.S. Strategic Petroleum Reserve Hits Lowest Level Since 1983

Crude oil stocks in the U.S. Strategic Petroleum Reserve (SPR) have fallen to 298.7 million barrels, the lowest level since January 1983. Data released Monday by the Department of Energy shows the reserve dropped by 6.1 million barrels last week.

Donald Trump ordered the release of 172 million barrels in March after Iran disrupted oil exports through the Strait of Hormuz. The U.S. is currently participating in a coordinated International Energy Agency effort to support global markets with a total of 400 million barrels.

The drawdown has raised concerns regarding operational limits. While a Department of Energy spokesperson cited a safety minimum of 70 million barrels, industry standards suggest an operational minimum between 250 million and 300 million barrels. A Government Accountability Office report further warned that aging infrastructure and construction outages have rendered a significant portion of the remaining stocks unavailable for drawdown.