US Strategic Petroleum Reserve Falls to 40-Year Low, Down 5.5M Barrels
The US Strategic Petroleum Reserve fell by 5.5 million barrels last week to 326 million barrels, the lowest since May 1983. This marks the 13th consecutive weekly decline, with reserves down 89 million barrels over the period.
The US Strategic Petroleum Reserve (SPR) declined by 5.5 million barrels last week, dropping to 326 million barrels — the lowest level since May 1983. This represents the 13th consecutive weekly draw, the longest such streak since the 2021–2023 period.
Over the current run, total SPR stocks have fallen by 89 million barrels. This is equivalent to 51.7% of the 172 million barrels planned for release under an IEA-coordinated relief program aimed at lowering energy costs.
For context, the US added 69 million barrels to the SPR between July 2023 and March 2026. The current pace of depletion is described as historically rapid.
Source: The Kobeissi Letter