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2026-10-17 00:08:20
The United States will release up to 17 million barrels of crude oil from its Strategic Petroleum Reserve (SPR) through an exchange program. According to relevant public documents, this batch of crude oil will be released via an exchange mechanism, allowing participating parties to withdraw crude oil initially and return it later. The delivery period is from November of this year to January of next year. Successful bidders will be required to return crude oil of equivalent quality to the SPR between 2028 and 2029, and will also be required to return at least 12.5% of the crude oil as compensation for related costs. The deadline for bidding is 11:00 AM Central Time on October 21. The U.S. Department of Energy revealed that this bidding process adopts a "negotiated" model, allowing government departments to communicate and negotiate the specific scale of the crude oil exchange, the specifications of the oil, and all other terms and participating parties involved in the bidding. This crude oil exchange is a market-oriented measure for the United States to regulate domestic energy supply. By releasing reserve crude oil in the short term to supplement market supply, and stipulating rules for future return with an additional percentage, it ensures that the long-term size of the Strategic Petroleum Reserve is not reduced and allows for dynamic optimization and adjustment of reserve resources.
