US Strategic Petroleum Reserve Hits 2-Year Low Following Record Weekly Draw

Key Facts

1A record 9.9 million barrels of oil were shipped out from the U.S. Strategic Petroleum Reserve last week.

2Total volumes in the U.S. government's emergency stash fell to about 374 million barrels, the lowest since July 2024.

The U.S. Department of Energy reported a record weekly withdrawal of 9.9 million barrels from the Strategic Petroleum Reserve (SPR). This move has brought total volumes in the government's emergency stash down to approximately 374 million barrels. This level represents the lowest point for the reserve since July 2024, highlighting significant outflows from the nation's strategic energy buffer.

This decline occurs as global energy markets remain on edge, with SPR draws reducing the safety margin against potential supply shocks. Compared to the American Petroleum Institute (API) data released on May 12, 2026, which showed a crude oil stock change of -2.188 million barrels, the magnitude of the SPR withdrawal significantly exceeds initial market expectations. Per market data, continued reliance on strategic reserves often supports bullish sentiment for crude futures as seasonal demand ramps up.

Traders are closely monitoring global crude price levels following this impactful data, as markets remain sensitive to shifts in U.S. energy policy. Looking at the upcoming economic calendar, investors are awaiting further industrial production reports and global inflation data later this week to gauge future demand prospects. Upcoming energy inventory releases will be critical in determining whether the U.S. administration will pivot toward refilling the reserve or continue utilizing it for market stabilization.