The Strategic Petroleum Reserve in 2026: How Much Oil Is Left?
The US emergency oil stockpile was tapped heavily after the Strait of Hormuz closed. It fell to its lowest level in more than four decades. Here is how the reserve works and why its level matters.
Key takeaways
- The Strategic Petroleum Reserve (SPR) stores crude oil in salt caverns at four sites in Texas and Louisiana.
- In March 2026, the US announced a 172 million barrel release, part of a 400 million barrel release coordinated by the International Energy Agency.
- The reserve held about 285 million barrels in early September 2026, well under half of its 714 million barrel design capacity.
- A low reserve leaves less cushion for the next supply shock.
What the SPR is
Congress created the reserve with the Energy Policy and Conservation Act of 1975, after the 1973–74 Arab oil embargo showed how exposed the US was to supply cuts. The first oil arrived in 1977. The crude is stored in huge caverns carved out of underground salt domes along the Gulf Coast, which is cheap and secure.
| Site | State |
|---|---|
| Bryan Mound (Freeport) | Texas |
| Big Hill (Winnie) | Texas |
| West Hackberry (Lake Charles) | Louisiana |
| Bayou Choctaw (Baton Rouge) | Louisiana |
The design capacity is 714 million barrels. At full speed, the system can deliver up to about 2.7 million barrels a day, and oil can start reaching the market about 13 days after a presidential order.
Past emergency releases
| Year | Event | Release |
|---|---|---|
| 1991 | Gulf War (Desert Storm) | About 21 million barrels |
| 2005 | Hurricane Katrina | About 11 million barrels |
| 2022 | Russia's invasion of Ukraine | 180 million barrels over six months |
| 2026 | Iran war and Strait of Hormuz closure | 172 million barrels announced in March |
The 2026 drawdown
After Iran closed the Strait of Hormuz in late February, the US announced in March that it would release 172 million barrels over about four months, its share of a 400 million barrel coordinated release by IEA member countries. The reserve fell to its lowest level since the early 1980s over the summer, and held about 285.4 million barrels as of September 4, 2026.
Officials have discussed refilling it, including with Venezuelan oil, but any large purchase needs funding from Congress and time. Buying back oil also adds to demand, which can support prices.
Why the level matters for prices
- Short-term relief: releases add supply and can calm prices during a crisis, as they did in parts of 2022 and 2026.
- Less cushion later: a depleted reserve means less ability to respond to the next disruption, which markets may price in as a risk premium.
- Physical limits: engineers have warned that very low levels and heavy use can strain the aging caverns and equipment.
Where to follow it
The Department of Energy publishes SPR inventory data, and the EIA's weekly petroleum report, usually out on Wednesdays, shows changes in both commercial and SPR stocks. Follow crude prices live on our oil page, and see why gas prices are so high in 2026.
This article is general education, not personalized financial advice. Read our editorial policy and disclaimer.
