US Weighs Cancellation of Next SPR Sale | Forexlive
Via Energy Intel, says the US is reviewing and considering canceling a planned sale of crude oil from its Strategic Petroleum Reserve (SPR) this year
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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.
More at that link above.Energy intel citing unnamed sources for the info.
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Pic from an earlier release announcement: