The U.S. Department of Energy announced it purchased six million barrels of crude oil for the Strategic Petroleum Reserve (SPR) to protect the nation's energy security.
The contracts were awarded on Sept. 27 for the monthly delivery of 1.5 million barrels of sour crude, which is the oil that a lot of U.S. refineries process. The deliveries will be made from February 2025 to May 2025 to the Bayou Choctaw site.
