# US strategic oil reserves fall to 1983 levels during Iran war 2026-08-10T19:41:07+00:00 | World & Diplomacy | Indian Opinion Desk Corroboration: 1 independent outlet The US Strategic Petroleum Reserve has fallen below 300 million barrels for the first time since 1983, NDTV Profit reports. Washington has been drawing heavily on emergency oil stocks during the ongoing war with Iran. The reserve, created after the 1973 oil crisis, is meant to cushion supply disruptions. At current draw rates, the reserve could drop further if the conflict continues. The last time levels were this low, Ronald Reagan was president and oil was trading at around $30 a barrel. ## Coverage - ndtvprofit.com Tags: energy security, Iran war, oil reserves, strategic petroleum reserve, US Canonical: https://indianopinion.org/us-strategic-oil-reserves-fall-to-1983-levels-during-iran-war/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/us-strategic-oil-reserves-fall-to-1983-levels-during-iran-war/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.