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U.S. Emergency Oil Reserves Hit Lowest Level Since Reagan Era

KVIA•Monday, June 15, 2026 at 10:33 PM•CNN Newsource

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The U.S. Strategic Petroleum Reserve (SPR) has fallen to its lowest level since 1983, with only 340.3 million barrels remaining after the release of 8.9 million barrels last week. This significant drop is attributed to ongoing emergency oil releases amid the conflict with Iran and rising energy prices. The SPR has decreased by 75 million barrels, or 18%, since the onset of the war with Iran in February. Experts warn that the reserve must maintain at least 20% capacity to function effectively, raising concerns about potential supply issues, especially if a hurricane disrupts Gulf production. Immediate attention is needed to replenish the reserve before the peak hurricane season.

Key Details: • Current SPR level: 340.3 million barrels, the lowest since July 1983. • 8.9 million barrels were released last week alone. • SPR has decreased by 75 million barrels since February 2023. • Experts warn the reserve must stay above 20% capacity to remain operational. • Potential risks of supply disruption if a hurricane impacts Gulf oil production.

economy energy oil iran hurricane

People & Organizations

Donald TrumpAndy LipowMike SommersAmerican Petroleum Reserve

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