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US Buys 2.1m bbl for SPR: Gov

OIL

The US government has awarded contracts to purchase 2.1m bbl to restock the SPR, according to a notice by the US office of Cybersecurity, Energy Security, and Emergency Response.

  • The contracts were awarded to three companies for February delivery, bringing the total to 3m bbl for delivery to the Big Hill site.
  • The 2.1m bbl were purchased at an average price of $74.23/b, below the average of $95/b that the SPR crude was sold for in 2022, the notice said.

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