As much as 15 million barrels of crude oil sold from the U.S. Strategic Petroleum Reserve

The U.S. Department of Energy (DOE) announced a notice of sale of as much as 15 million barrels of crude oil from the Strategic Petroleum Reserve (SPR) on October 18, 2022, to help address the market supply disruption caused by Russia’s full-scale invasion of Ukraine and to help lower energy costs. The sale was held on October 19, 2022, for delivery in December 2022. This sale will complete the 180 million barrel sale of crude oil from the SPR that President Biden announced in the spring of 2022 and is part of a larger effort to ensure an adequate supply of petroleum in response to Russia’s full-scale invasion of Ukraine. More »