Key facts
- The U.S. Strategic Petroleum Reserve has fallen to its lowest level since 1983.
- The reserve held 340.3 million barrels of crude oil as of June 12, 2026.
- 8.9 million barrels were released from the SPR last week alone.
- The reserve has decreased by 75 million barrels (18%) since the conflict with Iran started.
- Officials warn the SPR must be at least 20% full to remain operational.
The U.S. Strategic Petroleum Reserve (SPR) has fallen to its lowest level since 1983, a significant depletion attributed to extensive releases aimed at mitigating the economic impacts of global conflicts, particularly the war with Iran. As of June 12, 2026, the reserve held 340.3 million barrels of crude oil, marking a historic low. Last week alone, officials released an additional 8.9 million barrels.
The SPR has become a critical tool for the Trump administration to manage high energy prices. The reserve has decreased by 75 million barrels, or 18%, since the conflict with Iran began in late February. This drawdown is occurring at a faster pace than previous releases, including those under the Biden administration following Russia's invasion of Ukraine.
Experts like Andy Lipow, president of Lipow Oil Associates, noted that these releases have helped prevent a more severe oil price scenario. However, he cautioned that the reduced buffer could leave the U.S. vulnerable to supply disruptions, such as those caused by major hurricanes in the Gulf of Mexico.
Concerns are also mounting regarding the operational capacity of the SPR. Mike Sommers, CEO of the American Petroleum Reserve, warned that the reserve must maintain a minimum fill level of 20% to be operational, and current levels are approaching this critical threshold. The rapid depletion raises alarms about future energy security and the ability to respond to unforeseen events.