US strategic petroleum reserves hit lowest level since 1983
Tehran - BORNA - The reserves have declined this year after President Donald Trump authorized the release of up to 172 million barrels in March following the start of aggression against Iran, aimed at controlling the impact on energy supplies. The release was announced on March 11, 2026. Data from the Energy Information Administration shows reserves stood at about 415.4 million barrels in mid-March, with inventories falling by about 116 million barrels by early August.
The latest releases come after a historic drawdown over the past several years, accelerated by President Biden's order to release 180 million barrels in response to Russia's invasion of Ukraine in early 2022. Inventories stood at about 600 million barrels at the start of 2022 and fell to 375 million barrels by year's end. When SPR levels reached their lowest point in the summer of 2023 at about 347 million barrels, they gradually recovered, reaching 400 million barrels by May 2025. Levels exceeded 415 million barrels in February before the aggression against Iran began.
The Strategic Petroleum Reserve was created in 1975 under the Energy Policy and Conservation Act in response to the 1973-1974 OPEC oil embargo. It was initially intended to hold up to one billion barrels of oil, but never reached that level. The current maximum authorized capacity is about 714 million barrels, with the highest recorded inventory of 726.6 million barrels reached in December 2009, when authorized capacity was 727 million barrels.
The SPR is stored in four locations in salt caverns thousands of feet underground, as these geological formations offer cost and maintenance advantages over surface facilities, in addition to environmental and security considerations.
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