U.S. Strategic Petroleum Reserve Hits Decades-Low Amid Ongoing Iran War

The U.S. Strategic Petroleum Reserve is facing a critical low point due to rapid drawdowns caused by the ongoing war between the U.S. and Iran.

In February, the reserve held around 415 million barrels of oil but has since shrunk more than 30% in six months to less than 285 million barrels, its lowest level since the early 1980s.

The Trump administration has tapped into the stockpile multiple times to boost fuel supplies, but this has put a strain on the reserve's structure and economy. 'You can damage them by pumping too much out of them,' says Samantha Gross, director of the energy security and climate initiative at the Brookings Institution.

The economic risk is also high as global oil stockpiles are low due to the war, making it difficult for the U.S. to replenish its reserves. 'A lot of the things that got us through the last six months, all those buffers, have really been worn away,' says Ben Cahill, non-resident senior fellow at the Atlantic Council.