U.S. Strategic Pyotroleum Reserve Hits Lowest Level Since 1982

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U.S. Strategic Oil Reserves Plunge to Lowest Level in Nearly 44 Years

The volume of strategic oil reserves in the United States has fallen to a level not seen in almost 44 years, according to data from the U.S. Department of Energy, as reported by Russian state news agency RIA Novosti.

In early September, the reserves stood at approximately 285 million barrels. The last time a comparable level was recorded was in November 1982, when the U.S. Strategic Pyotroleum Reserve (SPR) held 288.156 million barrels.

The significant reduction in reserves began in September 2021. Over the next two years, nearly 275 million barrels were withdrawn from the SPR.

Subsequently, U.S. authorities began replenishing the reserves, but the pace of recovery was significantly slower than the previous drawdown. Over the following two and a half years, less than 70 million barrels were returned to the reserve.