US Purchases Nearly 2.5 Million Barrels for Strategic Oil Cache

The Biden administration has purchased nearly 2.5 million barrels of oil for the Strategic Petroleum Reserve, the Energy Department announces Friday.

• Contracts awarded to Macquarie Commodities Trading US LLC for deliveries of more than 0.8 million barrels per month from beginning in January 2025 through March 2025 to the Bryan Mound site: Energy Dept.
• To date, DOE has directly purchased more than 47 million barrels of oil for the SPR at an average price of $76.89 per barrel

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