News & Alerts
March 10, 2020 DEPARTMENT OF ENERGY SUSPENDS SALE OF CRUDE OIL FROM STRATEGIC PETROLEUM RESERVE
On March 10, 2020, the United States Department of Energy (DOE) spokeswoman, Jess Szymanski, issued a statement that scheduled sale of crude oil from the Strategic Petroleum Reserve (SPR) will be suspended in light of recent market conditions. According to Reuters, the sale had been mandated under a 2015 law to fund maintenance and upgrades at the SPR, which is located on the Texas and Louisiana coasts. Szymanski stated that the DOE “continually monitors and evaluates global oil markets and will provide updated information as market conditions change.” The DOE attribution is available at https://www.energy.gov/articles/doe-statement-upcoming-spr-crude-oil-sale.