EconomyWhat Is the US Strategic Petroleum Reserve and Why Does It Matter?

Created after the 1975 Arab oil embargo, the US Strategic Petroleum Reserve now holds about 290 million barrels—less than half its 700-million-barrel capacity and its lowest level since 1983. Stored in 61 Gulf Coast salt caverns, it was heavily depleted after the Russia-Ukraine war and this year’s Strait of Hormuz closure. A recent Government Accountability Office report warned ageing infrastructure could impede future emergency releases.