U.S. to Sell 7 mln barrels of Crude From SPR
The DOE will accept offers on the oil until March 21. Delivery of the crude will be from May 1 to May 14, from the Strategic Petroleum Reserve's (SPR) West Hackberry site, and from May 1 to May 31 from its Bryan Mound site, the DOE said.
The SPR currently holds 666.5 million barrels of oil, more than enough to meet a spare supply agreement with the International Energy Agency. As domestic oil output has grown with the fracking revolution, lawmakers have increasingly seen sales from the reserve as a way to help fund the government.