Energy Department Initiates Additional Strategic Petroleum Reserve Emergency Exchange to Stabilize Global Oil Supply

WASHINGTON—The U.S. Department of Energy (DOE) issued a Request for Proposal (RFP) today for an emergency exchange of 10-million-barrels from the Strategic Petroleum Reserve (SPR). This action is part of the coordinated release of 400-million-barrels from IEA member nations’ strategic reserves President Trump previously announced. The United States continues to deliver on its 172-million-barrel release commitment. 

The crude oil will originate from the Strategic Petroleum Reserve’s (SPR) Bryan Mound site. Today’s action builds on the initial phase of the Emergency Exchange, which moved quickly to award 45.2 million barrels from the Bayou Choctaw, Bryan Mound, and West Hackberry SPR sites. The 10-million-barrel exchange leverages the full capabilities of the SPR, alongside the President’s limited Jones Act waiver, to accelerate critical near-term oil flows into the market. 

“Today's action furthers the United States’ efforts to move oil quickly to the market and mitigate short-term supply disruptions,” said DOE Assistant Secretary of the Hydrocarbons and Geothermal Energy Office Kyle Haustveit. “Thanks to President Trump, America is managing our national security assets responsibly again. Through this exchange, we will continue to refill the Strategic Petroleum Reserve by bringing additional barrels back at a later date through this pragmatic exchange structure, strengthening its long-term readiness and all at no cost to the American taxpayer.” 

Under DOE’s exchange authority, participating companies will return the borrowed 10 million barrels with additional premium barrels by next year. This exchange delivers immediate crude to refiners and the market while generating additional barrels for the American people at no cost to taxpayers.  

Bids for the solicitation are due no later than 11:00 A.M. CT on Monday, April 6, 2026.   

For more information on the SPR, please visit DOE’s website.