politics
U.S. Strategic Petroleum Reserve near 43-year low after 2022 releases
The reserve fell to historic lows after 180 million barrels were withdrawn in 2022. Officials are now funding repairs and restocking during the Iran conflict.
Jul 20, 4:00 PM·1m read1 source
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Rapid withdrawals stressed underground salt caverns, exposed equipment to weather damage, and created access difficulties at one site.
situation During the ongoing Iran war, officials have drawn on remaining reserves to help moderate oil prices. The same releases left the stockpile depleted and in need of maintenance. Extra funding is being directed toward repairs and restocking to restore operational capacity. The reserve's reduced level follows the largest single-year draw since its creation.
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