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Market
U.S. oil production exceeds 14M barrels/day by June 2025?
4
Resolution / Starting Odds
Yes • 50%
No • 50%
U.S. Energy Information Administration (EIA) monthly production reports
Story
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.
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Similar markets
Yes • 50%
No • 50%
Below 13 mb/d • 25%
13 to 13.5 mb/d • 25%
13.5 to 14 mb/d • 25%
Above 14 mb/d • 25%
Increase by 3 million barrels per day or more • 25%
Increase by less than 3 million barrels per day • 25%
No significant change • 25%
Decrease • 25%
Less than 13.5 million barrels per day • 25%
13.5 to 13.7 million barrels per day • 25%
13.7 to 13.9 million barrels per day • 25%
More than 13.9 million barrels per day • 25%