The SPR crude stockpile dropped last week to its lowest level since 1983, underscoring how depleted emergency oil reserves remain.
The U.S. Strategic Petroleum Reserve, or SPR (emergency government oil stockpile), shrank by about 5.1 million barrels last week to 311.4 million barrels. That left the reserve at its lowest level since 1983, based on the linked EIA data. The decline highlights how far the emergency crude buffer has been drawn down, a closely watched indicator in energy markets and U.S. supply security discussions.