The U.S. is consuming its emergency oil reserve at more than three times the speed.

An analysis of U.S. crude oil stockpiles from February 6 to August 3, 2026 shows that both its commercial inventories and its strategic reserves are on a downward trend; however, the reduction in strategic reserves has been far greater.

U.S. strategic oil reserves (SPR) have fallen from about 415.2 million barrels to 304.8 million barrels—an amount of roughly 110.5 million barrels in less than six months, equivalent to a 26.6% decrease.

Crude oil commercial inventories have also declined from about 428.8 million barrels to 407.2 million barrels; that is, a net drop of 21.6 million barrels, equivalent to about 5%.