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US announced test sale of crude from strategic reserve

The US is reportedly planning to sell 5mn barrels of sour crude from its Strategic Petroleum Reserve (SPR) as part of a test sale to assess its ability to distribute oil in the event of an emergency. The crude will be for deliveries during April. The US Department of Energy (DoE) is understood to have said it will not sell the oil for less than 95% of market prices for comparable crude being sold in the same area, and that is expects the sale to have ‘minimal market impact’.

News Item details


Journal title: Petroleum Review

Countries: USA -

Subjects: Oil

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