Strategic Petroleum Reserve sales expected to start this month

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25 Jan

Strategic Petroleum Reserve sales expected to start this month">Strategic Petroleum Reserve sales expected to start this month

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(Thu, 26 Jan 2017) Yesterday the U.S. Department of Energy's (DOE) Office of Fossil Energy awarded contracts for the first of several sales of crude oil from the Strategic Petroleum Reserve (SPR). A Continuing Resolution enacted in December 2016 included a provision for DOE to sell up to $375.4 million in crude oil from the SPR. This sale will be the first of several planned sales totaling nearly 190 million barrels during fiscal years 2017 through 2025.

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