U.S. Strategic Petroleum Reserve Reaches Lowest Level Since 1982
The U.S. Strategic Petroleum Reserve (SPR) has dropped to its lowest level since November 1982, holding 285.4 million barrels of crude oil as of September 4, according to the Energy Information Administration. This marks a decline from the previous week and represents nearly a 30% reduction compared to this time last year when reserves stood at 405.2 million barrels. The drawdown is part of an ongoing U.S. initiative to release up to 172 million barrels from the reserve. The depletion coincides with rising oil prices, driven by geopolitical tensions and supply disruptions such as Saudi Arabia's pipeline shutdown following drone attacks in August. West Texas Intermediate crude rose above $92 per barrel during this period, while Brent crude exceeded $108 a barrel for the first time since May 2026. The expiration of a U.S.-Iran ceasefire also contributed to upward pressure on oil markets.
Topics: energy policy oil prices U.S. Strategic Petroleum Reserve