New legislation affects U.S. Strategic Petroleum Reserve

Two recently enacted laws authorize significant sales of crude oil from the Strategic Petroleum Reserve (SPR) over the next decade. The Bipartisan Budget Act authorizes the sale of 58 million barrels of SPR oil between FY 2018-2025 for deficit reduction purposes and an estimated 40-50 million barrels of oil in FY 2017-2020 for SPR modernization. The Fixing America's Surface Transportation Act authorizes the sale of 66 million barrels of oil in FY 2023-25 to help support the Highway Trust Fund. More »