The US Strategic Petroleum Reserve (SPR) has continued to decline, falling below 290 million barrels last week and reaching its lowest level in more than four decades.
According to data released by the US Department of Energy, the reserve dropped by approximately 3.7 million barrels, from 293.4 million barrels to 289.7 million barrels as of 21 August. The latest stockpile consists of around 98.7 million barrels of sweet crude and 191 million barrels of sour crude.
The current level represents only about 41% of the SPR’s authorized capacity of 714 million barrels. Historical records from the US Energy Information Administration indicate that the reserve last contained a smaller amount of crude in November 1982, when stocks stood at approximately 288.2 million barrels.
The reserve has experienced a substantial reduction since late February, losing more than 125 million barrels, equivalent to roughly 30% of its holdings. At the end of February, the SPR contained around 415.4 million barrels.
The continuing decline is linked to emergency oil releases launched in March following disruptions to Middle Eastern energy supplies and restrictions affecting oil shipments through the Strait of Hormuz.
US President Donald Trump authorized the release of 172 million barrels as part of a coordinated initiative with the International Energy Agency (IEA). The wider plan aims to make approximately 400 million barrels of oil and petroleum products available to international markets.
Recent Energy Department figures show that the SPR released 15.1 million barrels during August alone. This follows withdrawals of 17.4 million barrels in July, 33 million in June and 39.4 million in May, demonstrating the continued pressure on America’s emergency oil reserves.
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