By SUZANNE DOWNING
May 1, 2026 – The US Department of Energy on Thursday issued a new Request for Proposal to exchange up to 92.5 million barrels of crude oil from the Strategic Petroleum Reserve, in an effort to stabilize global energy markets.
The move is part of a broader directive from President Donald Trump to release 172 million barrels domestically, contributing to a coordinated 400 million-barrel drawdown among member nations of the International Energy Agency.
Federal officials described the action as one of the largest and fastest deployments in the 50-year history of the reserve, aimed at easing short-term supply disruptions and reinforcing energy security for the United States and its allies.
Under the solicitation, crude oil will be released from four major storage sites along the Gulf Coast: Bayou Choctaw, Bryan Mound, Big Hill, and West Hackberry. The emergency exchange allows companies to borrow oil now and return it later with additional “premium” barrels, effectively increasing the reserve over time.
The Department of Energy said earlier exchange rounds have already moved about 80 million barrels to market and secured a 24% premium on returned oil—an arrangement officials say strengthens the reserve without direct cost to taxpayers.
“These actions help move oil quickly into the market, address short-term supply pressures, and ensure that the Strategic Petroleum Reserve remains strong,” said Kyle Haustveit, assistant secretary for the department’s Hydrocarbons and Geothermal Energy Office.
The bidding process is now open, with proposals due by 11 am Central Time on May 4.
The Strategic Petroleum Reserve, the world’s largest emergency oil stockpile, has been increasingly used as a tool to respond to market volatility, geopolitical disruptions, and supply constraints, particularly during periods of elevated global demand or constrained production.
