As of January 13, 2023, the Strategic Petroleum Reserve (SPR) of the United States has 371,579,000 barrels of oil, the equivalent of 51.1% full. If the current drawdown would continue, the SPR would be empty by January 26, 2027. However, due to legal reasons, the SPR can only fall to about 238,000,000 barrels of oil by 2028.
The level of the SPR is about 11 million barrels lower than a month ago. The drawdown speed seems to have reduced.
Depleting the SPR of the United States can have several dangers. The SPR is a reserve of oil that is maintained by the federal government to protect the country from oil supply disruptions. When the SPR is depleted, the country may be left vulnerable to oil price spikes and shortages in the event of an emergency. Additionally, depleting the SPR could weaken the ability of the United States to influence global oil markets, as the reserve is sometimes used as a tool to stabilize prices.
Another danger of depleting the SPR is that it could reduce the country's energy security. The SPR is meant to provide a buffer against supply disruptions, and without it, the country would be more reliant on foreign sources of oil. This could leave the US economy and citizens more exposed to the volatility of global oil markets.
For further information, read this article and also this article
Previous Reports:
November 20, 2022. Status of the Strategic Petroleum Reserve of the United States
December 14, 2022. Status of the Strategic Petroleum Reserve of the United States #2