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Market
Major Oil Supply Region for SPR in 2024
5
Resolution / Starting Odds
West Texas • 33%
Alaska • 33%
Gulf Coast • 34%
US Department of Energy regional supply data
Story
US Energy Department Buys 3.3 Million Barrels of US-Produced Oil for Strategic Reserve
May 17, 2024, 07:19 PM
The US Department of Energy has purchased 3.3 million barrels of US-produced crude oil for the Strategic Petroleum Reserve (SPR). The contracts for this acquisition were awarded today, and the oil will be delivered to the Big Hill site in November. This purchase is part of the DOE's ongoing strategy to refill the SPR, which has so far resulted in the acquisition of 35.6 million barrels of oil at an average price of $77.18 per barrel, and the acceleration of nearly 4 million barrels of exchange returns.
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Similar markets
Gulf Coast • 25%
Midwest • 25%
West Coast • 25%
East Coast • 25%
Less than 350 million barrels • 25%
350-375 million barrels • 25%
375-400 million barrels • 25%
More than 400 million barrels • 25%
Increase by more than 20% • 25%
Increase by 10-20% • 25%
Increase by less than 10% • 25%
Decrease or no significant change • 25%
Significantly positive • 25%
Moderately positive • 25%
Neutral • 25%
Negative • 25%
Less than 40 million barrels • 25%
40-50 million barrels • 25%
50-60 million barrels • 25%
More than 60 million barrels • 25%
Less than $75 per barrel • 25%
$75 to $80 per barrel • 25%
$80 to $85 per barrel • 25%
More than $85 per barrel • 25%
Less than 50 million barrels • 25%
50-100 million barrels • 25%
100-150 million barrels • 25%
More than 150 million barrels • 25%
Saudi Arabia • 25%
Russia • 25%
United States • 25%
Other • 25%