DOE Statement on Upcoming SPR Crude Oil Sale

In light of the recent fluctuations in global oil markets...

Energy.gov

March 10, 2020

*On the record, attributable to DOE Spokeswoman, Jess Szymanski

 

“In light of the recent fluctuations in global oil markets, the U.S. Department of Energy is suspending the recently announced sale of crude oil from the Strategic Petroleum Reserve (SPR). The sale was designed to raise revenue for SPR facility maintenance and upgrades. Given current oil markets, this is not the optimal time for the sale. The Department continually monitors and evaluates global oil markets and will provide updated information as market conditions change.” 

 

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