The U.S. Department of Energy announced a Request for Proposal for an emergency exchange of up to 92.5 million barrels of crude oil from the Strategic Petroleum Reserve. This action is part of a larger 172 million barrel release coordinated with International Energy Agency member nations to stabilize global oil supply amid disruptions from the Middle East conflict. The crude oil will be sourced from multiple SPR sites, and participating companies will return the borrowed oil with additional premium barrels.
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