America’s emergency oil stash just hit a number it hasn’t seen in over four decades. The Strategic Petroleum Reserve dropped to roughly 349.2 million barrels as of the week ending June 5, according to federal data, marking the lowest inventory level since August 1983.
To put that in perspective, the SPR’s authorized capacity is 714 million barrels. The reserve is now less than half full.
What’s driving the drawdown
Since the conflict with Iran escalated in late February, the Trump administration has released approximately 66 million barrels from the reserve to stabilize domestic supply and keep US exports flowing while the Middle East situation remains volatile.
The math is stark. The SPR stood at 424 million barrels in late February. It now sits at 349.2 million. That’s an 18% decline in roughly three and a half months.
