US to Refill Strategic Petroleum Reserve by 40 Million Barrels Post-Iran Conflict
Energy Sec Wright: We will refill the SPR by 40M barrels after Iran conflict is over
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US Energy Secretary Wright announced plans to refill the Strategic Petroleum Reserve (SPR) by 40 million barrels after the Iran conflict concludes. Currently, the SPR is at its lowest level since January 2024, following extensive releases due to the ongoing Middle East tensions.
- 01As of late May 2026, the SPR is at 357.1 million barrels, down from 392 million when Trump took office.
- 02The SPR has seen significant drawdowns, including 8 million barrels released in one week due to the Iran conflict.
- 03The Biden administration's policies led to a historic reduction of nearly 300 million barrels in the SPR from early 2022 to late 2022.
- 04Trump's administration had aimed to refill the SPR to capacity, reaching approximately 415 million barrels by early 2026 before the recent crisis.
- 05Current gas prices are around $4.22 per gallon, complicating efforts to refill the SPR amidst ongoing geopolitical tensions.
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US Energy Secretary Wright has stated that the United States plans to add 40 million barrels to the Strategic Petroleum Reserve (SPR) once the conflict in Iran is resolved. As of late May 2026, the SPR has been significantly depleted, currently holding 357.1 million barrels, the lowest since January 2024. The SPR was previously at about 415 million barrels but has seen substantial drawdowns due to the ongoing crisis in the Middle East, including a coordinated release of 172 million barrels as part of an international effort. The Biden administration's actions in 2022 led to a historic decrease in the reserve, dropping from approximately 638 million barrels to about 347 million barrels by late 2022. Although Trump's administration aimed to refill the SPR, the current geopolitical situation has reversed much of that progress. With gas prices currently around $4.22 per gallon, the situation remains challenging for future refills.
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The depletion of the SPR and high gas prices could affect consumers' fuel costs and energy security.
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