Strategic Petroleum Reserve levels fall to 284.6 million barrels

The United States Strategic Petroleum Reserve (SPR) has fallen to 284.6 million barrels, dropping below the 300 million barrel threshold in August for the first time in over four decades. Preliminary data from the Energy Information Administration (EIA) shows the reserve lost approximately 405,000 barrels during the week ending September 18.

The decline follows a March authorization by President Donald Trump to release 172 million barrels through exchanges. These loans require oil companies to repay the volume with additional “premium barrels.” The Department of Energy (DOE) previously stated it expected to return approximately 200 million barrels to the reserve within a year at no cost to taxpayers.

Experts have raised concerns regarding the current levels. Jason Hayes of the Heritage Foundation described the current volume as “a very thin emergency cushion, not a working strategic stockpile,” noting that the reserve is intended for use during wars, embargoes, or major supply shocks rather than for price management.