DOE issues notice of upcoming sale of crude from the SPR

As much as 6 million bbl of crude oil from three US Strategic Petroleum Reserve (SPR) sites in Texas and Louisiana will be offered in an upcoming March sale, the US Department of Energy announced on Feb. 27. The auctions are mandated to fund modernization of the reserve from fiscal 2017 through 2020 under Section 404 of the 2015 Bipartisan Budget Act, it noted.

Source: News