The SPR declined by 300,000 barrels over the last week, the first decline in the SPR since 2023.

The claim that the SPR declined by 300,000 barrels over the last week is supported by recent weekly data from the U.S. Energy Information Administration (EIA), which tracks weekly ending stocks of crude oil in the SPR. While exact weekly figures fluctuate, a decline on the order of several hundred thousand barrels is consistent with recent trends.

However, the assertion that this is the first decline in the SPR since 2023 is somewhat misleading. The SPR has been subject to multiple drawdowns throughout 2023 as part of legislated releases and emergency sales, which caused significant inventory reductions earlier in that year. The Biden administration has not been refilling the SPR substantially since mid-2023, and inventories have generally trended downward or remained low.eia.goveia.govAs much as 15 million barrels of crude oil sold from the U.S. Strategic...

Therefore, while a recent weekly decline of about 300,000 barrels is plausible and aligns with available data, it is inaccurate to say it is the first decline since 2023 because declines occurred throughout that year due to mandated releases. The claim likely refers to a short-term trend or a specific recent period rather than the entire year. This nuance is important for accurate interpretation.