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SPR Stocks Hit Lowest Level Since January 2024, EIA Data Shows

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Weekly US crude oil ending stocks in the Strategic Petroleum Reserve have fallen to their lowest level since January 2024, according to Energy Information Administration inventory data released Wednesday.

For the week ending May 29, 2026, EIA reported stocks of 357.1 mmbbls, a decline of about 8 mmbbls over the week.

Stocks hit their lowest since the week ending Jan. 26, 2024, when levels were at 357.4 mmbbls.

In the first three weeks of January 2024, SPR stocks ranged between 355 mmbbls and 357 mmbbls.

The SPR had been steadily building into early 2026, reaching over 415 mmbbls in March, the highest level in several years.

Since then, stocks have declined by about 58 mmbbls in over 10 weeks to 357.1 mmbbls.

The weekly draw aligns with market expectations. Macquarie strategists on Tuesday projected "another large SPR draw" of 8 mmbbls for the week ending May 29.

"While we model SPR releases as immediately benefitting commercial stocks, the precise timing of these flows could also add noise to weekly balances," Macquarie strategists said.

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