U.S. Petroleum Reserve Falls to 319.5 Million Barrels, Lowest Since 1983 Amid Iran War
Updated
Updated · Pew Research Center · Jul 7
U.S. Petroleum Reserve Falls to 319.5 Million Barrels, Lowest Since 1983 Amid Iran War
3 articles · Updated · Pew Research Center · Jul 7
Summary
319.5 million barrels remained in the U.S. Strategic Petroleum Reserve on July 3, the lowest level since 1983 after emergency drawdowns tied to oil-market shocks and the Iran conflict.
172 million barrels were ordered released over four months by President Donald Trump on March 11, the second-largest SPR withdrawal on record, following Joe Biden’s 180 million-barrel release in 2022.
69% of U.S. adults told Pew in late March they were extremely or very concerned about higher fuel prices from the war, underscoring the domestic political pressure behind the drawdowns.
The depletion comes even as the U.S. remains the world’s top crude producer with about 16% of global output, but it still imported a net 2.2 million barrels a day in 2025 because refineries need heavier crude.
Middle East oil made up just 3% of U.S. consumption in 2024, far below many Asian economies, but the IEA still called the current disruption the largest supply shock in history and launched its biggest-ever coordinated stock release.