US SPR Hits 319.5M, Lowest Since 1983

US Strategic Petroleum Reserve Levels

The United States Strategic Petroleum Reserve (SPR) decreased by 6.2 million barrels during the week ended July 3, bringing total holdings to 319.5 million barrels, according to Department of Energy data released on Monday. This level represents the lowest SPR inventory since April 1983.

The drawdown forms part of a broader U.S. plan to release a total of 172 million barrels from the reserve in order to address shortages in global oil supplies that have arisen following the Iran war and to help reduce fuel prices.

Since the war began in late February, combined U.S. oil inventories—including both commercial stocks and SPR holdings—have fallen by 120.71 million barrels, leaving total inventories at 734 million barrels as of June 26, the lowest figure recorded since 1984.

The information was reported by Reuters on July 6, 2026, with the article authored by Jaiveer Shekhawat and originally published on Investing.com.