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U.S. DOE Releases Solicitation for 3.5mn bbls for the SPR

OIL

The US Department of Energy has issued a solicitation to potentially buy another 3.5 million barrels of oil to refill the SPR.

  • The first purchase would be for approximately 1.5mn bbls of US produced sour crude oil for January 2025 with delivery to Bayou Choctaw.
  • The DOE has plans to release another solicitation for 2mn bbls for the SPR for delivery into the Bryan Mound site in January 2025.
  • The DOE aims for SPR refills at a price of $79/bbl or less.

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