The U.S. Department of Energy is seeking proposals to exchange up to 40 million barrels of crude oil from the Strategic Petroleum Reserve as part of a broader 172-million-barrel release coordinated with international partners. The oil will come from the Big Hill and Bryan Mound reserves and is intended to help stabilize markets and address short-term supply disruptions.
Companies will return the borrowed oil with additional barrels, allowing the SPR to rebuild its inventory while saving taxpayers money. Bids are due October 6, 2026, with deliveries scheduled for November and December.
