The U.S. Department of Energy’s (DOE) Office of Petroleum Reserves announced that it will begin delivering 15 million barrels of crude oil from the Strategic Petroleum Reserve (SPR) in the next day. In a statement, the DOE said the action will fulfill President Biden’s announcement in March authorizing the sale of up to 180 million barrels of oil to "serve as a wartime bridge as domestic production ramps back up" as well as help address the disruption "caused by Putin’s war on Ukraine and aid in lowering energy costs for American families."
Biden AdministrationUS EconomyOilStrategic Petroleum ReserveUkraine

Strategic Petroleum Reserve Inventory

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References

  1. DOE Announces Continued Action To Protect American Consumers And Address Global Supply Disruption Caused By Putin’s Energy Price Hike
    energy.gov

  2. Memorandum on the Finding that a Drawdown and Sale of Petroleum from the Strategic Petroleum Reserve is Required by U.S. Obligations Under the International Energy Program Implemented by the International Energy Agency
    whitehouse.gov

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