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US SPR Inventories Drop to 340.3 Million Barrels, Lowest Since 1983

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The US Department of Energy's Strategic Petroleum Reserve data on Monday showed the current SPR inventory as of June 12 at 340.3 million barrels.

Of the total, sour crude was at 211.9 million bbls while sweet crude was at 128.3 million bbls.

SPR levels have fallen to a near-record low, falling to their lowest level since 1983, according to a Bloomberg analysis.

The decline reflects the Trump administration's ongoing move to release 172 million bbls of oil, part of a coordinated worldwide effort by nations following the US-Israel joint campaign on Iran in late February.

According to Bloomberg, once the release is complete, the SPR will hold about 243 million bbls, representing almost a third of its authorized capacity of 700 million bbls.

The drawdown would mark the second-largest release in the stockpile's history, according to the report.

In an emailed response to, a US Department of Energy spokesperson said the Trump administration exchanged the barrels for lower-cost barrels that will be delivered back to the SPR.

"These exchanges will more than replace the 172-million-barrel release," the DOE spokesperson told, adding, "To date, the premium return rate has been about 26%, which is over 34 million barrels of oil, and potentially over $3 billion in taxpayer savings."

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