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US resumes SPR refills as crude prices slip below $80/bbl
Just over a month after it paused a program to refill the nation’s emergency crude oil stockpile, the US Department of Energy (DOE) on May 7 said it was resuming Strategic Petroleum Reserve (SPR) purchases, with new deliveries beginning in October. DOE stopped buying for the SPR in April—canceling two solicitations for August and September delivery—noting that it was not in taxpayers’ interest for it to purchase while prices were surging (OGJ Online, Apr. 5, 2024). DOE’s Office of Petroleum Reserves issued a solicitation to buy up to 3.3 million bbl deliveries into its Big Hill, Texas, SPR storage site in ... (full story)