U.S. Energy Department Plans 2025 SPR Oil Solicitation

The U.S. Department of Energy has opened a solicitation for up to 3 million barrels of oil for its Strategic Petroleum Reserve. This procurement is scheduled between April and May 2025. Currently, over 190 million barrels have been secured by the department for the SPR.

The U.S. Department of Energy revealed plans on Monday for a new solicitation targeting up to 3 million barrels of oil to be delivered to the Strategic Petroleum Reserve (SPR) from April to May 2025. This initiative aims to bolster energy security through strategic stockpiling measures.

The department, in a statement, emphasized that this effort underscores the ongoing commitment to safeguarding the country's energy resilience. The solicitation is part of a broader strategy to ensure adequate oil supplies in times of potential crisis or supply disruptions.

As of now, over 190 million barrels have already been secured for the SPR, reflecting a substantial inventory aimed at enhancing national energy security amid fluctuating global oil markets.

(With inputs from agencies.)