Business · Energy & Commodities · 7 hrs ago
US oil reserve falls to its lowest level since 1982
The US Strategic Petroleum Reserve held 283 million barrels at the end of September, the lowest level since October 1982.
The reserve is a government stockpile held in underground salt caverns along the Gulf Coast.
It was created in 1975 to help protect the country from oil supply disruptions.
After Russia invaded Ukraine in 2022, the US sold 180 million barrels from the reserve, and it had only partly recovered by 2025.
In March 2026, the US committed 172 million barrels to an international release after tanker traffic through the Strait of Hormuz was disrupted.
Unlike the 2022 sales, the oil in this release is being lent to companies, which must return it with extra barrels as interest.
In June, companies took up only 500,000 of 40 million barrels offered, and the account says rebuilding the reserve is difficult and depends on market conditions.
The U.S. Strategic Petroleum Reserve held 283 million barrels at the end of September, its lowest level since October 1982.
The reserve’s stock fell sharply after the Biden administration sold 180 million barrels in 2022.
In March 2026, the United States committed 172 million barrels to a coordinated release with the International Energy Agency.
Unlike the 2022 sale, the 2026 release is being carried out as loans that companies must repay in oil with interest.
In June, the Energy Department offered 40 million barrels but awarded only 500,000, all to Vitol.
- Who
- The U.S. Strategic Petroleum Reserve and the U.S. Energy Department.
- What
- The reserve fell to 283 million barrels, its lowest level since October 1982.
- When
- At the end of September; the article was published on October 11, 2026.
- Where
- The Strategic Petroleum Reserve’s Gulf Coast salt caverns.
- Why
- Stocks were reduced by past drawdowns, including the 2022 sale of 180 million barrels and a 2026 release committed in response to disruption to tanker traffic through the Strait of Hormuz.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
Congress created the Strategic Petroleum Reserve after the Arab oil embargo.
The reserve reached its peak of 726.6 million barrels.
The Biden administration sold 180 million barrels after Russia invaded Ukraine.
The reserve held 354.7 million barrels.
Year-end stocks had risen to 413.5 million barrels.
The United States committed 172 million barrels to a coordinated release; in June, the Energy Department awarded 500,000 of 40 million offered barrels to Vitol.
- Reserve at end of September
- 283 million barrels
- Lowest level since
- October 1982
- Reserve peak
- 726.6 million barrels at the end of 2009
- 2022 drawdown
- 180 million barrels
- 2026 U.S. release commitment
- 172 million barrels
- June 2026 award
- 500,000 barrels to Vitol
Sources
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