A 5.5 million barrel withdrawal has pushed U.S. Strategic Petroleum Reserve stockpiles down to 325.7 million barrels, a level not seen since May 1983, Department of Energy data shows.
The drawdown brings the total decline since the start of the US-Iran War to 111.4 million barrels across combined commercial and SPR inventories, with the current program permitting up to 172 million barrels to be released from reserves.
That decline left overall U.S. crude stocks, last measured on June 19, standing at 743.3 million barrels, a figure that marks the weakest reading since 1984.
With the reserve now sitting well below historical norms amid ongoing geopolitical uncertainty, the depth of the depletion raises fresh questions about how much of a cushion the U.S. retains against further supply shocks.
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