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Proposed federal budget deal includes sale of crude from SPR
Oil & Gas Journal: A tentative 2-year federal budget agreement, which is expected to come to a US House floor vote the afternoon of Oct. 28, includes a provision authorizing the sale of 58 million bbl of crude oil from the US Strategic Petroleum Reserve during 2018-25.
Proceeds would be deposited in the US Treasury’s general fund to help reduce the budget deficit. Sales would not be allowed if it was determined that they would limit the SPR’s ability to meet its strategic purpose and prevent and reduce adverse impacts of severe domestic energy supply disruptions.
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