Analysis from reputable energy policy think tanks and reports

Biden Administration Purchases 2.4 Million Barrels of Oil for SPR, Last Batch, Delivery to Texas April-May 2025, U.S. Production Hits 13.4M Daily

Nov 8, 2024, 04:31 PM

The Biden administration has announced the purchase of 2.4 million barrels of oil for the Strategic Petroleum Reserve (SPR), with delivery scheduled for April through May 2025. This acquisition marks the final batch of oil intended to replenish the SPR, as the revenue from a previous sale in 2022 has been exhausted. Concurrently, U.S. oil production has increased to 13.4 million barrels per day, reflecting a 20% rise since former President Donald Trump left office, who had pledged to enhance the U.S. energy sector.