US Oil Reserves Hit 40-Year Low Amid Iran Conflict
WASHINGTON — The United States Strategic Petroleum Reserve (SPR) has plunged to its lowest level since 1983, falling below the 300 million barrel mark as global energy markets remain under extreme pressure. According to data released by the Department of Energy on Monday, the reserve dropped by 6.1 million barrels last week, leaving the total inventory at 298.7 million barrels.
The significant drawdown follows an order from President Donald Trump in March to release 172 million barrels. This move was prompted by Iran choking off oil exports through the Strait of Hormuz, an event that triggered the largest disruption of crude oil supplies in recorded history. Prior to the conflict, which saw the U.S. and Israel attack Iran on February 28, the SPR stood at approximately 415 million barrels.
Concerns regarding the depletion of the reserve are mounting as the current inventory levels approach the operational minimum. While the authorized storage capacity is 714 million barrels, Energy Department officials previously stated that approximately 70 million barrels are required as a baseline to safely operate the facility. Projections suggest that once the current ordered release is completed, government stocks will hover around 243 million barrels.
The situation is further complicated by a May report from the Government Accountability Office (GAO), which warned that the SPR’s operational capability is at risk due to aging infrastructure. Investigators found that as of late 2025, more than a quarter of the inventory was unavailable for drawdown because of construction and cavern outages. Analytical firms suggest that at least 103 million barrels currently in the reserve may be inaccessible for immediate use.
Energy experts remain divided on the risks posed by these historic lows. Former State Department special envoy David Goldwyn noted that while the reserve still has the capacity for further releases if necessary, the frequent and massive drawdowns accelerate the physical degradation of wells and equipment. The GAO has characterized recent large-scale deployments as an unplanned stress test for a system that was already struggling with maintenance backlogs.
This latest depletion follows a trend of increasing reliance on the reserve to manage market volatility. In 2022, President Joe Biden released 180 million barrels following the Russian invasion of Ukraine, which at the time set a record for the largest release in the history of the SPR. The current geopolitical climate continues to place unprecedented demands on U.S. emergency energy supplies.
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