The U.S. Strategic Petroleum Reserve (SPR), a stockpile of emergency crude oil, falls below 300 million barrels for the first time in decades. Updated U.S. Department of Energy data shows the SPR holds 298.7 million barrels as of Friday.
The reserves have been drawn down through ongoing withdrawals. Quartz reports the SPR releases 6.1 million barrels last week, driving the total to its lowest level since January 1983. The Hill similarly notes the level is now below 300 million barrels for the first time since the reserve was being filled in earlier decades, with the last comparable period occurring in the early 1980s.
Both outlets attribute the drawdown to current supply actions connected to the Iran-related situation, describing continued withdrawals that bring the SPR to a new low threshold. The reporting emphasizes the milestone level—crossing below 300 million barrels—while relying on the same type of government data for the current stock level and recent weekly change.
