US Depletes Emergency Oil Reserve as Canadian Crude Imports Soar
The Strategic Petroleum Reserve (SPR) in the United States has been depleted at an alarming rate, with a 172-million-barrel release authorized by President Donald Trump's administration in 2026 as part of a broader International Energy Agency effort.
The reserve, built to provide a buffer against import cutoffs and hostile supply disruptions, has fallen to its lowest level since the early 1980s, standing at approximately 319.5 million barrels by early July.
The drawdown is not just a technical decision, but also a reflection of the United States' reliance on Canadian crude oil, which supplied 63.4% of US imports in 2025.
Canada's role in the US energy system has become increasingly important, with exports to the US totaling 222.7 million cubic meters and most of those exports moving by pipeline.