Free Trial

US Plans to Buy 3mn Barrels For SPR For September

OIL

The US DOE announced a solicitation to purchase around 3mn barrels of oil for the SPR in September, it said in a statement.

  • Bids for the solicitation are due on March 13, 2024. The delivery will be received by the Big Hill storage facility.
  • DOE has already purchased a total of 26.28mn barrels of oil for the SPR for an average price of $76.47/bbl.
  • China would be barred from buying oil from the SPR under a provision included in must-pass government funding legislation unveiled Sunday.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.