GoKawiilU.S. Strategic Petroleum Reserve drops to 283.8 million barrels, lowest since 1982
EIA data show SPR crude stocks fell to 284.6 million barrels for the week ending September 18, then to 283.8 million barrels the following week, marking the lowest level since October 1982. The decline stems from a 172 million-barrel release authorized by President Trump in March as part of a 400 million-barrel coordinated IEA release, with about 133 million barrels structured as swaps requiring Shell, Vitol and Trafigura to return 1.25 barrels per barrel taken starting early next year.
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The reserve is now approaching the federally mandated operational minimum of 252.4 million barrels, a threshold analysts say could limit the U.S. government's ability to respond to future supply disruptions. Ben Cahill of the Atlantic Council suggests further releases could become self-defeating if markets perceive the U.S. is running low on options, while analyst Saul Kavonic's comparison to 'living on a credit card' implies the drawdown, rather than new production, has been propping up price stability amid reduced Hormuz flows.
- SPR stocks hit 283.8 million barrels, the lowest since 1982, after a multi-decade low was already set in August.
- The drawdown originates from a 172 million-barrel release tied to a coordinated 400 million-barrel IEA release, with refill pledges of about 200 million barrels within a year.
- About 133 million barrels are swap arrangements with Shell, Vitol and Trafigura requiring repayment of 1.25 barrels per barrel starting early next year.
Source: oilprice.com — Charles Kennedy, 2026-09-29
Published there as: “U.S. Strategic Petroleum Reserve Falls to Lowest Level Since 1982”
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