Oil Deliveries to U.S. Strategic Petroleum Reserve Begin, an Industrial Info Market Brief

Oil deliveries have begun to the U.S. Strategic Petroleum Reserve (SPR). This is to alleviate the lack of storage currently in the U.S. The Department of Energy has been negotiating with some U.S. producers for a lease deal that would allow the oil to be stored in the SPR. The deal includes storing approximately 23 million barrels of oil in the SPR with a return through March 2021.