US oil reserve nears panic levels as stockpile hits multi-decade lows

The U.S. Strategic Petroleum Reserve is sliding toward panic levels, with inventories at their lowest since 1983 and about 66 million barrels drained (172 million released overall) as authorities release oil to support domestic prices. With dwindling SPRs and limited policy tools amid geopolitical tensions, analysts warn the remaining stockpile could leave policymakers exposed to sharper oil price spikes and increased market volatility in the coming months.