U.S. Strategic Petroleum Reserve Falls Below 290 Million Barrels
Crude oil stocks in the U.S. Strategic Petroleum Reserve fell to 289.7 million barrels as of Aug. 21, their lowest level since November 1982, as emergency releases continued.
What Readers Should Know
- The SPR fell by about 3.7 million barrels to 289.7 million barrels as of Aug. 21.
- The reserve is at its lowest level since November 1982.
- The SPR is filled to around 41% of its authorized 714-million-barrel capacity.
- Stocks have fallen by more than 125 million barrels since late February.
- The drawdown reflects continued emergency releases linked to Middle East supply disruptions and restrictions through the Strait of Hormuz.
- The Energy Department reported 15.1 million barrels released so far in August.
U.S. Strategic Petroleum Reserve Falls to 289.7 Million Barrels
Crude oil stocks in the U.S. Strategic Petroleum Reserve (SPR) fell below 290 million barrels last week, reaching their lowest level since 1982, official data showed Monday.
The reserve declined by about 3.7 million barrels to 289.7 million barrels as of Aug. 21, down from 293.4 million barrels a week earlier, according to the U.S. Department of Energy.
The latest inventory comprised 98.7 million barrels of sweet crude and 191 million barrels of sour crude.
How Full Is the U.S. Strategic Petroleum Reserve?
The reserve is now filled to around 41% of its authorized storage capacity of 714 million barrels.
Historical data from the U.S. Energy Information Administration showed the SPR last held less crude in November 1982, when inventories stood at 288.2 million barrels.
SPR Stocks Have Fallen More Than 125 Million Barrels Since February
The stockpile has fallen by more than 125 million barrels, or about 30%, since late February, when it contained approximately 415.4 million barrels.
Why the Strategic Petroleum Reserve Is Being Drawn Down
The decline reflects continued releases under an emergency program announced in March in response to Middle East supply disruptions and restrictions on shipments through the Strait of Hormuz.
U.S. President Donald Trump authorized the release of 172 million barrels from the reserve as part of a coordinated International Energy Agency initiative to make 400 million barrels of oil and petroleum products available to global markets.
How Much Oil Has Been Released From the SPR?
The Energy Department's data showed 15.1 million barrels had been released from the SPR so far in August, following drawdowns of 17.4 million barrels in July, 33 million in June and 39.4 million in May.
U.S. Strategic Petroleum Reserve Questions and Answers
How much oil was in the U.S. Strategic Petroleum Reserve as of Aug. 21?
The reserve held 289.7 million barrels of crude oil as of Aug. 21.
How much did the SPR decline in the latest week?
It fell by about 3.7 million barrels from 293.4 million barrels a week earlier.
When was the U.S. Strategic Petroleum Reserve last this low?
EIA historical data showed the reserve last held less crude in November 1982, when inventories stood at 288.2 million barrels.
What percentage of the SPR's authorized capacity is currently filled?
The reserve is filled to around 41% of its authorized storage capacity of 714 million barrels.
Why are barrels being released from the Strategic Petroleum Reserve?
The releases are part of an emergency program announced in March in response to Middle East supply disruptions and restrictions on shipments through the Strait of Hormuz.