Oil Reserve Moves: How Presidents Have Used the SPR in Crises

Presidents have long turned to the Strategic Petroleum Reserve (SPR) when oil markets feel shaky, even though selling from it is not a routine plan. The SPR holds 415. 4 million barrels of mostly sour crude, stored in salt caverns along Texas and Louisiana. Its full capacity is about 714 million barrels. When Russia attacked Ukraine in March 2022, President Biden released a record 180 million barrels over six months to ease price pressure. The move was the largest ever, and both Biden and Trump have since purchased oil to replenish the stock, but Congress must approve funding for full restoration. In 2019, when Houthi rebels struck Saudi Arabia’s Abqaiq refinery and Khurais field, President Trump said the SPR could be tapped if needed. Oil production bounced back quickly, so the reserve was not used.

During Libya’s 2011 civil war, President Obama released 30 million barrels to help stabilize global markets. That action was coordinated with the International Energy Agency, which released an equal amount from other members. After Iraq invaded Kuwait in 1990‑91, President George H. W. Bush sold about 21 million barrels in two phases: a 3. 9‑million‑barrel test sale in October 1990 and a larger 34 million‑barrel release in January 1991 as the Gulf War began. Today, President Trump’s administration is not discussing a sale. However, analysts say that if oil prices keep climbing after U. S. strikes on Iran’s leadership, the SPR could be reconsidered.

Actions