Oil stocks in US Strategic Petroleum Reserve fall by 1.2 million barrels to lowest level since 1982

Crude oil inventories in the U.S. Strategic Petroleum Reserve (SPR) decreased by approximately 1.2 million barrels last week to 285.4 million barrels, according to data released by the Department of Energy. This latest drawdown brings the nation's emergency crude stockpiles to their lowest level since November 1982. The ongoing reductions in emergency reserves are part of an official U.S. commitment to release a total of 172 million barrels from the reserve facility to stabilize energy markets and manage domestic fuel supplies. The persistent depletion of the SPR limits the U.S. government's capacity to buffer against future geopolitical disruptions or supply chain shocks. Consequently, shrinking emergency reserves and continuous draws tend to provide long-term structural support for global crude oil prices, as the market anticipates eventual government repurchases to replenish the depleted reserves.