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SPR Purchase Price Above $80 by End of 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Financial reports and announcements from the US Department of Energy
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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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$75 to $80 per barrel • 25%
$80 to $85 per barrel • 25%
More than $85 per barrel • 25%
Supportive measures passed • 33%
Oppositional measures passed • 33%
No significant measures • 33%
Less than 40 million barrels • 25%
40-50 million barrels • 25%
50-60 million barrels • 25%
More than 60 million barrels • 25%