U.S. SPR Depletion Sparks Concern Over Global Oil Crisis Preparedness

The U.S. Strategic Petroleum Reserve (SPR) is a stockpile of crude oil created in 1975 to protect the economy from supply disruptions.

Initially authorized for 750 million barrels, the capacity was expanded to 1 billion but funding wasn't allocated until 2005.

The president may order a drawdown due to severe energy supply interruptions or IEA obligations. Congress occasionally passes legislation to conduct releases for revenue generation.