🇺🇸JUST IN: America's emergency oil reserve has fallen to its LOWEST level since 1982. The Strategic Petroleum Reserve now holds just 283.8 MILLION barrels, down from about 406 MILLION a year ago. That's less than 40% of its 714 MILLION barrel capacity. The drawdown began in March, when the US released 172 MILLION barrels to limit the damage from the Iran war.