US to Offer Up to 17 Million Barrels of Crude from Strategic Petroleum Reserve via Exchange Program

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Limited seats available, first come first served. Let us embark on this sustainable journey together! [Click to Register] According to a document, the United States will offer up to 17 million barrels of crude oil from the Strategic Petroleum Reserve (SPR).

The crude oil will be provided through an exchange program, in which participating parties first borrow the crude oil and return it at a later date. Delivery is scheduled from November through January of next year.

Bidders must return the crude oil to the SPR between 2028 and 2029, plus an additional return of at least 12.5%. The bidding deadline is 11:00 AM Central Time on October 21.

The U.S. Department of Energy stated that this solicitation takes a "negotiated" form, thereby "allowing the government to discuss the quantity, quality, or any other terms of this solicitation."

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