Overview
- The Department of Energy said Nov. 12 it awarded contracts following an Oct. 21 solicitation to purchase crude from the most competitive bids that met specifications.
- The one million barrels are scheduled for delivery between December 2025 and January 2026 to the SPR’s Bryan Mound site in Texas.
- The reserve currently holds just over 400 million barrels, well below its approximate 700 million barrel capacity.
- DOE officials criticized the 2022 release of about 180 million barrels, citing nearly $280 million in costs and strain on storage and injection infrastructure.
- The administration frames the purchase as an initial step to bolster energy security, and analysts view buying at moderate prices as a chance to rebuild before potential supply disruptions.