The US Department of Energy (DOE) has issued a Request for Proposal for an emergency exchange of up to 92.5 million barrels of crude oil from the Strategic Petroleum Reserve (SPR) as part of a broader coordinated release effort with International Energy Agency allies.
The move continues a large-scale SPR drawdown strategy aimed at addressing short-term supply disruptions and supporting energy markets, building on previous exchanges that collectively released tens of millions of barrels while requiring companies to return additional “premium” volumes.
Crude will be sourced from multiple SPR sites, and officials say the exchange is designed to quickly increase oil supply to the market while ultimately maintaining or even expanding reserve levels through repayment terms.
