U.S. Oil Reserves at 60% Despite Trump's Refill Promise

Mar 10, 2026, 2:53 AM

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In January 2025, President Donald Trump declared a "national energy emergency" and pledged to refill the United States' Strategic Petroleum Reserve (SPR). He stated, "We will bring prices down, fill our strategic reserves up again right to the top, and export American energy all over the world." However, as of now, the SPR holds approximately 416 million barrels of crude oil, which is around 58% of its maximum capacity of 714 million barrels, indicating that the reserves are far from full.

Since the start of Trump's second term, the volume of the reserve has only increased by about 5%. This situation is particularly concerning given the current geopolitical climate. The US is heavily involved in a conflict in the Middle East, which has disrupted global petroleum supplies and led to significant increases in gas prices. For instance, US gas prices have surged, averaging $3.41 per gallon, marking a 14% rise across the country according to AAA data .

The SPR was established in 1975 in response to the oil crisis of the early 1970s, aimed at protecting the US economy from supply disruptions. Now, with the current military actions in Iran affecting oil shipments from the region, the US appears to be facing a similar crisis. The Strait of Hormuz, a vital passage for global oil trade, has been blocked, impacting around 20% of the world's liquid petroleum supply, causing Brent crude prices to exceed $100 a barrel for the first time since 2022.

Despite the rising prices and the pressing need for additional reserves, the Trump administration has not publicly discussed releasing oil from the SPR. Trump has claimed that the US has a "tremendous amount" of oil and suggested that rising prices would resolve quickly. Energy Secretary Chris Wright echoed this sentiment, stating that there is "no energy shortage" in the Western Hemisphere and attributing price increases to "emotional reactions" stemming from the ongoing conflict .

Historically, the US SPR has been maintained at high levels, especially until former President Joe Biden authorized significant drawdowns beginning in 2022, which depleted the reserves to their lowest levels since the early 1980s. Biden's administration sold off nearly 300 million barrels from the reserve to combat soaring gasoline prices caused by the war in Ukraine and sanctions against Russia.

Trump criticized Biden's management of the SPR, arguing that the drawdown was politically motivated. As the conflict in Iran escalates and if gasoline prices remain elevated, Trump may be compelled to consider a release from the reserve to alleviate public pressure, particularly as midterm elections approach. Reports suggest that discussions are ongoing within the White House regarding a potential coordinated response with G7 nations, which may include a reserve release to stabilize the market .

Refilling the SPR will likely take considerable time and resources. A 2016 Department of Energy report indicated that about 70% of the reserve's infrastructure was outdated and in need of upgrades, with repair costs estimated to exceed $100 million. Furthermore, the rapid drawdown of the reserve during Biden's tenure has likely exacerbated existing structural issues, complicating efforts to restore it to full capacity.

In summary, while President Trump's administration has made pledges to refill the US Strategic Petroleum Reserve, current levels are alarmingly low amid a backdrop of rising oil prices and geopolitical tensions. The challenges of restoring the reserve to its full capacity, combined with the realities of the ongoing conflict in the Middle East, may leave the US vulnerable to future energy crises if not addressed promptly.

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