U.S. Sells 10 Million Barrels Of Oil From Strategic Petroleum Reserve

The U.S. Department of Energy has awarded contracts for the sale of 10.1 million barrels of crude oil from the Strategic Petroleum Reserve (SPR) as part of a recent Congressionally-directed SPR crude oil sale. The Department of Energy’s Office of Fossil Energy issued in early February 2021 a notice of sale from the SPR to fulfill the requirements of a mandatory sale of 10.

1 million barrels during the fiscal year 2021. The proceeds of the sale will be deposited in the U.S. Treasury by the end of the fiscal year, DOE said last month. Last week,…