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Will the average price of oil purchased for the SPR be higher than $80 per barrel by the end of 2024?
2
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from the U.S. Department of Energy
Story
Biden Administration Purchases 4.65 Million Barrels of Oil for Strategic Petroleum Reserve at $77 per Barrel
Jul 29, 2024, 04:43 PM
The Biden administration announced on Monday that it has purchased 4.65 million barrels of crude oil for the nation’s emergency cache, the Strategic Petroleum Reserve (SPR), as part of ongoing efforts to refill the depleted reserve. This purchase brings the total amount of oil bought to refill the reserve to 43.25 million barrels. The average purchase price was $77 per barrel, according to the Energy Department. The US plans to continue buying oil for the reserve into next year. This follows the draining of 180 million barrels from the reserve.
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Similar markets
Yes • 50%
No • 50%
Less than $70 per barrel • 25%
$70 to $75 per barrel • 25%
$75 to $80 per barrel • 25%
More than $80 per barrel • 25%
Below $75.00 per barrel • 25%
$75.00 - $77.99 per barrel • 25%
$78.00 - $79.99 per barrel • 25%
Above $80.00 per barrel • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Below $70 • 25%
$70-$75 • 25%
$75-$80 • 25%
Above $80 • 25%
Yes • 50%
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Less than 10 million barrels • 25%
10 to 20 million barrels • 25%
20 to 30 million barrels • 25%
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Below $66 • 25%
$66 - $68 • 25%
$68 - $70 • 25%
Above $70 • 25%
