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U.S. strategic petroleum reserve falls to 340.3 million barrels, lowest since 1983

U.S. strategic petroleum reserve falls to 340.3 million barrels, lowest since 1983

The U.S. emergency crude stockpile has dropped to a four-decade low, raising concerns that reduced inventories could weaken energy security and make it harder to steady oil prices during future disruptions.

Fact Check
The claim is corroborated by multiple independent authoritative outlets including Reuters and The Hill, both citing federal Department of Energy data. All sources agree on the exact figure of 340.3 million barrels and the 'lowest since 1983' characterization, as of June 12, 2026. The decline is consistently attributed to a 172-million-barrel SPR release authorized in March amid the Iran conflict and Strait of Hormuz disruption. The figure falls below the prior modern low of ~346.8 million barrels from 2023, supporting the four-decade-low claim.
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Summary

The U.S. strategic petroleum reserve has fallen to 340.3 million barrels, its lowest level since 1983. The reserve is the United States’ emergency crude oil stockpile used to cushion supply disruptions. The latest framing adds that the depleted reserve could strain future energy security and complicate efforts to stabilize oil prices, underscoring the broader risks of a sustained drawdown. Separately, reports say inventories are now below the level reached after President Biden’s 2023 drawdown linked to Ukraine war-related energy shocks, though that comparison was provided without additional figures or timing.

Terms & Concepts
  • Strategic petroleum reserve: The United States’ emergency crude oil stockpile, maintained to help buffer supply disruptions and support market stability during energy shocks.