Bank of America: US Oil Reserves Hit 40-50 Year Low as Strategic Reserve Coverage Falls to 40 Days

Bank of America Global Research said total US crude oil inventories, including the Strategic Petroleum Reserve (SPR), have fallen to their lowest level in 40 to 50 years, according to a Mehr News Agency report published Monday, Shahrivar 2, 1405 (August 24, 2026). Per the report, the coverage provided by US strategic reserves has dropped sharply to near a critical 40 day threshold, compared with a historical average of about 65 days.

Bank of America analysts said the rapid drawdown of US strategic reserves in recent years has largely stemmed from Washington's efforts to temporarily contain energy prices and offset the effects of its energy policies. They warned that in the event of an unexpected shock to global oil supply or escalating tension in strategic energy producing regions, the United States' ability to manage the consequences would be severely limited.