US Weighs Cancellation of Next SPR Sale
Via Energy Intel
Hi says the US is reviewing and considering canceling a planned sale of crude oil from its Strategic Petroleum Reserve (SPR) this year
The planned releases, scheduled to take place by September of this year, are under review, according to three US-based sources.
Biden administration switches its focus to refilling the reserve after a year of record releases aimed at taming oil prices.
At stake are 26 million barrels of congressionally-mandated sales originally designed to raise revenue under bills passed at a time when lawmakers were less concerned about energy security because of a rapid rise in US shale oil production.