US to sell 32 mln oil barrels from 4 sites as part of strategic sale

Oil storage tanks

The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve (SPR) sites to be delivered between December-end and April 2022, Reuters reported, citing the Department of Energy (DOE).

In the first auction of the coordinated release, about 10 million barrels will be made available from Big Hill and Bryan Mound in Texas, about seven million barrels from West Hackberry in Louisiana and another five million barrels from Bayou Choctaw in Louisiana, the DOE announced on its website.

Deliveries will take place from January through April 2022, with early deliveries accepted in late December.

Companies are required to submit bids on Dec. 6 and contracts will be awarded no later than Dec. 14.