U.S. Awards Contracts for 45 Million Barrels of Oil from Strategic Petroleum Reserve

The U.S. Department of Energy has begun delivering 45 million barrels of oil from the Strategic Petroleum Reserve as part of an exchange aimed at stabilizing global supply.

(P&GJ) — The U.S. Department of Energy has awarded contracts for more than 45 million barrels of crude oil under a Strategic Petroleum Reserve (SPR) exchange, with deliveries beginning immediately as part of a broader emergency supply effort.

The initial exchange covers 45.2 million barrels of crude oil, with the U.S. set to receive approximately 55 million barrels in return, increasing the reserve’s long-term inventory.

The move is part of a coordinated release led by the United States and International Energy Agency (IEA) member nations to address short-term supply disruptions in global energy markets.

Under the exchange, oil will be distributed from three SPR storage sites: 10 million barrels from Bayou Choctaw, 15.7 million barrels from Bryan Mound and 19.5 million barrels from West Hackberry.

“Thanks to President Trump, the Energy Department began this first exchange at record speeds to address short-term supply disruptions while also strengthening the Strategic Petroleum Reserve by returning additional barrels at no cost to taxpayers,” said Kyle Haustveit, Assistant Secretary of the Hydrocarbons and Geothermal Energy Office. “This exchange not only maintains reliability in the current market but will generate hundreds of millions of dollars in value in the form of additional barrels for the American people when the barrels are returned.”

The exchange represents the first portion of a broader 172-million-barrel release plan and is expected to add nearly 10 million barrels to the SPR when the oil is returned.

Officials said the effort is designed to stabilize supply in the near term while reinforcing the reserve’s role in U.S. energy security.