The Department of Energy (DOE) announced today that it will purchase up to 3 million barrels of oil for the Strategic Petroleum Reserve (SPR) in continuation of the Biden-Harris Administration’s three-part replenishment plan. DOE issued a solicitation of sour crude oil to the Big Hill SPR site. Today’s announcement advances the President’s replenishment strategy following his historic release from the SPR to address the significant global supply disruption caused by Putin’s war on Ukraine and provide a wartime bridge for domestic production to increase. Analysis from the Department of the Treasury indicates that SPR ... (full story)