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Fourth Notice SPR Release Announced

OIL

The US Department of Energy announced the fourth notice of sale of 45mn bbls from the SPR yesterday. The sale is part of Bidens announcement on March 32, 2022 to release 1mn bpd for six months.

  • Deliveries from the fourth Notice of Sale will take place from August 16, 2022 through September 30, 2022. DOE must receive bids for the first Notice of Sale no later than 10:00 a.m. Central Time on June 28, 2022, and will award contracts to successful offers no later than July 8, 2022.
  • DOE also announced that contracts have been awarded for the purchase of crude oil from the SPR announced in a Notice of Sale on May 24, 2022. These barrels will be released between June 15 and July 31, 2022.

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