US Strategic Petroleum Reserve Releases Record 8.6 Million Barrels in One Week

The US Strategic Petroleum Reserve released more than 1.22 million barrels per day last week, for a total of about 8.6 million barrels during the seven-day period. That weekly volume marks the largest on record, surpassing the peak rate reached in 2022 when the reserve was tapped following Russia's invasion of Ukraine.

During the 2022 release under former President Biden, the highest weekly rate did not exceed the level reported for last week. The current pace equates to roughly 8.6 million barrels in a single week. The size of the reserve has declined in recent years after earlier large-scale releases. Officials have previously said that replenishment purchases would occur when market conditions allow.

The timing comes as global oil markets continue to monitor production decisions by major exporters and demand trends in major economies. No immediate supply emergency has been declared by the administration. Releases require presidential approval but are executed through competitive sales or exchanges with refiners.

Last week's withdrawal rate of more than 1.22 million barrels per day is higher than the sustained rates seen during most prior drawdowns.