Energy Secretary confirms plans to refill 40M barrels of the SPR once Middle East tensions ease, following record drawdowns.
The US will add 40 million barrels to its Strategic Petroleum Reserve after the Iran conflict concludes, Energy Secretary Wright announced. The SPR currently holds 357.1 million barrels, its lowest level since January 2024, following an 8 million-barrel release in the week ending May 29, 2026.
The reserve has seen significant drawdowns this year, including back-to-back record releases of 9.92 million and 8.6 million barrels in mid-May. The US, alongside the IEA, has released 172 million barrels domestically as part of a 400 million-barrel global effort to stabilize oil markets amid Middle East supply disruptions. The SPR peaked at 726.6 million barrels historically but now sits at roughly half that level.
Refill efforts were prioritized under the previous administration, with the SPR climbing to 411-415 million barrels by early 2026 before the Iran conflict halted progress. The DOE had previously listed refilling the SPR as a key priority in early 2025.