Thu
Jul 16 2026
12:14 pm

The U.S. is tapping in to its national stocks of crude with abandon. The withdrawals are taking a toll on the strategic reserve system.

While the administration has pledged to replenish the SPR, the president has tapped the reserve to cushion consumers from price shocks caused by his war of choice in Iran.
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"Last week, the Energy Department revealed that stocks of crude ​oil in the ‌Strategic Petroleum Reserve (SPR) fell to 316.5 ​million barrels, its lowest since April 1983.
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Mounting infrastructure issues have also plagued the SPR."

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