U.S. Strategic Petroleum Reserve Hits Lowest Level Since 1982

The United States Strategic Petroleum Reserve has dropped to 289.7 million barrels, the lowest volume recorded since 1982. This depletion follows extensive releases by both Donald Trump and former President Joe Biden, including a 172-million-barrel release triggered by the start of the U.S.-Israeli war with Iran on February 28.

President Trump announced plans to refill the reserve using Venezuelan oil, though this depends on reaching a deal with Caracas to revive the Venezuelan oil industry. Analysts indicate that full replenishment could take years. Current U.S. law prohibits routine small drawdowns if the reserve falls below 252.4 million barrels.

Infrastructure concerns have emerged as the reserve nears critical levels. Experts warn that operating below 250 million barrels risks damaging pumps and cavern walls. Additionally, the Government Accountability Office has flagged risks to the reserve's fill and drawdown capabilities due to aging infrastructure.