US Oil Reserve Hits Historic Low Amid Ongoing War with Iran
The US Strategic Petroleum Reserve (SPR) is at its lowest level since 1982, holding just 289.7 million barrels after years of releases by former President Joe Biden and President Donald Trump.
The reserve's aging infrastructure is now in a precarious state due to the ongoing war with Iran, which has halted efforts to replenish the SPR. According to a Department of Energy source, the minimum operating level for the SPR is 70 million barrels.
However, Professor Siddharth Misra of Texas A&M University suggests that the practical minimum level for safe operations is close to 250 million barrels, as operating below this level 'pushes the infrastructure into a dangerous zone.'
The Trump administration released 172 million barrels of SPR oil as a loan in March, but the return on this loan will not begin until later this year and is not slated to be completed until late 2028.