According to a document, the US will provide up to 17 million barrels of crude oil from strategic oil reserves. Crude oil will be provided through an exchange program where participants first borrow crude oil and return it later. The delivery period is from November to January next year. Bidders are required to return the reduced oil to SPR between 2028 and 2029, with an additional return of at least 12.5%. The bid deadline is 11 a.m. Central US Time on October 21. The US Department of Energy said the tender was in a “negotiation” format, so “the government is allowed to discuss the quantity, quality, or any other terms of this tender” of crude oil.
Zhitongcaijing · 3d ago
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According to a document, the US will provide up to 17 million barrels of crude oil from strategic oil reserves. Crude oil will be provided through an exchange program where participants first borrow crude oil and return it later. The delivery period is from November to January next year. Bidders are required to return the reduced oil to SPR between 2028 and 2029, with an additional return of at least 12.5%. The bid deadline is 11 a.m. Central US Time on October 21. The US Department of Energy said the tender was in a “negotiation” format, so “the government is allowed to discuss the quantity, quality, or any other terms of this tender” of crude oil.
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