Assertion Supported AI assessment confidence: 95% certainty 4/5 debate potential 2/5

Friedberg: US Strategic Petroleum Reserve drops to lowest level since 1983

David Friedberg · E161: US strikes Houthis, market instability, Q1 rate cuts in doubt, Carta's major mishap, DEI · Jan 13, 2024 · at 24:12

David Friedberg, CEO of The Production Board, discusses US energy vulnerability and Strategic Petroleum Reserve levels amid geopolitical risks in the Middle East.

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“So we have about three hundred and fifty million barrels in the Strategic Petroleum Reserve today. That's down from Call it early 21 when we were at six hundred and fifty million barrels. And, you know, it was pretty much at that level for decades after the buildup leading up to 1990. We haven't been at a level this low in the Strategic Petroleum Reserve since 1983.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

The US Strategic Petroleum Reserve holds approximately 350 million barrels of oil, down from 650 million barrels in early 2021, reaching its lowest level since 1983.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

U.S. Energy Information Administration (EIA) data confirms all core statements in the claim. In January 2024, SPR inventory stood at approximately 358 million barrels (and ~355 million in December 2023), matching the ~350 million barrel figure. In early 2021, inventory was ~638 million barrels, matching the ~650 million barrel approximation. Furthermore, inventory levels in mid-2023 to early 2024 represented the lowest SPR inventory level since August 1983.

EIA data recorded SPR ending stocks at 358.0 million barrels in January 2024 and 354.7 million barrels in December 2023.
EIA data recorded SPR ending stocks at 638.1 million barrels in January 2021.
SPR levels had not been below 358 million barrels since August 1983, confirming this was the lowest level since 1983.

Checked against

[1] eia.gov [2] bipartisanpolicy.org [3] eia.gov [4] eia.gov

US Strategic Petroleum Reserve inventory historical data 1983 2021 2024 EIA EIA Strategic Petroleum Reserve inventory January 2024 2021 1983 EIA SPR inventory weekly or monthly data January 2024 January 2021

assessed as of 2026-07-30

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Mentioned

United States US Strategic Petroleum Reserve

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