Strategic Petroleum Reserve Dwindles Ahead of Winter Demand

Clear Facts

• America’s Strategic Petroleum Reserve now holds 284.6 million barrels after losing 405,000 barrels in the week ending Sept. 18.
• The reserve is 121 million barrels lower than the same period last year.
• The Trump administration expects oil companies to repay the 180 million barrels borrowed from the reserve.

America’s emergency oil stockpile has fallen to just 284.6 million barrels as winter approaches. The Strategic Petroleum Reserve lost another 405,000 barrels in the week ending Sept. 18. That leaves the reserve roughly 30 percent smaller than it was a year ago.

The sharp decline follows repeated releases ordered by the previous administration. The Trump administration now expects oil companies to repay the 180 million barrels they borrowed from the reserve. Officials say those repayments are essential to restoring the nation’s energy security.

Energy analysts warn that low reserves leave the United States vulnerable if cold weather drives up demand. They point out that a strong domestic production policy is the best long-term defense against supply shocks.

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