The strategic oil reserve is at its lowest level since 1982 in the United States.

BREAKING: The Strategic Petroleum Reserve (SPR) fell -300,000 barrels last week, to 282.7 million barrels, the lowest level since October 1982.

Since March 20th, US oil inventories in the SPR have dropped -132.8 million, or -32%.

We have now seen drawdowns in 29 of the last 30… pic.twitter.com/Z3R0QBZt8h

— The Kobeissi Letter (@KobeissiLetter) October 22, 2026