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US Considers Cancelling Next SPR Sale

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The US is reviewing cancelling the next planned sale of SPR crude this year, as the government switches to focus on refilling the reserve according to Energyintel sources.

  • The planned releases of 26mn barrels, scheduled to take place by September of this year, are under review, sources said.
  • Congress already cancelled 140mn barrels of required sales last year for the four fiscal years starting in Oct 2023 at the administration's request.
  • US Energy Secretary Jennifer Granholm outlined a strategy for the SPR on Monday that includes significant repurchases over the next two years.
  • "These repurchases will continue to be informed by consistent evaluation of the energy market and geopolitical unrest that has disrupted energy flows globally," said a Department of Energy spokesperson.
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The US is reviewing cancelling the next planned sale of SPR crude this year, as the government switches to focus on refilling the reserve according to Energyintel sources.

  • The planned releases of 26mn barrels, scheduled to take place by September of this year, are under review, sources said.
  • Congress already cancelled 140mn barrels of required sales last year for the four fiscal years starting in Oct 2023 at the administration's request.
  • US Energy Secretary Jennifer Granholm outlined a strategy for the SPR on Monday that includes significant repurchases over the next two years.
  • "These repurchases will continue to be informed by consistent evaluation of the energy market and geopolitical unrest that has disrupted energy flows globally," said a Department of Energy spokesperson.