B · Normal
[The United States will provide up to 17 million barrels of crude oil from the Strategic Petroleum Reserve in the form of an exchange plan] October 16th, according to a document, the United States will provide up to 17 million barrels of crude oil from the Strategic Petroleum Reserve (SPR). Crude oil will be provided through a swap program, in which participants borrow crude oil first and return it at a later date, with delivery times from November to January next year. Bidders must return crude oil to SPR between 2028 and 2029, plus at least an additional 12.5%. The deadline for bidding is October 21 at 11 a.m. Central Time. The DOE said the tender is a "negotiated" format, which "allows the government to discuss the quantity, quality, or any other terms of this tender."
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