Wednesday,
May 27
May 27
DOE Strategic Petroleum Reserve Crude Oil Purchase
The U.S. Energy Department is due to receive bids in response to its request for proposals to buy up to one million barrels of sweet crude oil produced by domestic producers amid an unprecedented drop in demand caused by the COVID-19 pandemic. The oil, purchased from small to midsize U.S. oil producers, will be delivered to Strategic Petroleum Reserve sites located in Bayou Choctaw, Big Hill, and Bryan Mound, which can accommodate up to 505,000 barrels in total per day. The purchase intends to test the conditions of physical crude oil available to the reserve. READ MORE