U.S. Strategic Petroleum Reserve falls 3.8 million barrels to 308 million, lowest since March 1983
The 18th straight weekly decline marks the longest stretch since 2023, underscoring a continued drawdown in emergency U.S. crude stockpiles.
Fact Check
The Bipartisan Policy Center explainer (citing EIA data) confirms the SPR held 308 million barrels as of July 24, 2026, the lowest since 1983. RBN Energy confirms the 18th consecutive weekly decline to the lowest level since 1983. AG Bull confirms the 3.8 million barrel draw to 307.65 million barrels as the 18th consecutive weekly drop. All core elements of the claim—the 3.8 million barrel decline, the 308 million barrel level, lowest since March 1983, and 18th straight weekly decline (longest since 2023)—are corroborated by multiple independent sources.
Summary
The U.S. Strategic Petroleum Reserve fell by 3.8 million barrels last week to 308 million barrels, its lowest level since March 1983. The decline extended the drawdown to 18 consecutive weeks, the longest such stretch since 2023, according to Zerohedge. The SPR is the United States' emergency crude stockpile, and sustained declines can draw market attention because they reduce a key buffer intended to help respond to supply disruptions and energy shocks.
Terms & Concepts
- Strategic Petroleum Reserve: U.S. emergency crude oil stockpile
- drawdown: A reduction in stored reserves or holdings