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U.S. Buys a Token Barrel to Refill the Strategic Reserve

OilPrice · Julianne Geiger · last updated
The Trump administration is dipping its toe—barely—into refilling the U.S. Strategic Petroleum Reserve (SPR), announcing plans to purchase one million barrels of crude for delivery in December and January. The move, while symbolically significant, amounts to little more than a rounding error in a reserve that once held 700 million barrels. The Department of Energy will use $171 million from President Trump’s new tax and spending law to fund the purchase, issuing a solicitation for crude to be delivered to the Bayou Choctaw site…
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