ENERGY DEPARTMENT ISSUES RFP TO ADVANCE PRESIDENT TRUMP’S 172-MILLION-BARREL STRATEGIC PETROLEUM RESERVE EXCHANGE
DOE Delivers Historic RFP to Strengthen Global Oil Supply Stability
WASHINGTON—The U.S. Department of Energy (DOE) today issued a Request for Proposal (RFP) for an exchange of up to 40 million barrels of crude oil from the Strategic Petroleum Reserve (SPR). Today’s solicitation opens competitive bidding, continuing DOE’s execution of President Trump’s 172-million-barrel release as part of a coordinated 400-million-barrel action by International Energy Agency (IEA) member nations’ strategic reserves.
Under President Trump’s leadership, DOE has advanced an unprecedented series of large-scale SPR exchange solicitations at record speed. These actions have moved critical crude oil supplies into the market to address short term supply disruptions and bolster energy security for the United States and its allies.
The crude oil will originate from the SPR's Big Hill and Bryan Mound sites. This action builds on the Department’s four previous solicitations that collectively awarded more than 133 million barrels across three completed exchanges. DOE’s earlier exchanges demonstrated the SPR’s ability to rapidly deliver crude under emergency authorities while achieving a 26 percent premium in returned barrels—expanding the reserve at no additional cost to American taxpayers.
“With today’s announcement, we are accelerating the President’s commitment to a coordinated and strategic release that stabilizes global oil markets,” said DOE Acting Assistant Secretary for the Hydrocarbons and Geothermal Energy Office Curt Coccodrilli. “This exchange will help move oil swiftly to refiners, ease short-term supply pressures, and ensure the Strategic Petroleum Reserve continues to grow stronger through the return of premium barrels.”
Under DOE’s exchange authority, participating companies will return the 40 million borrowed barrels with additional premium barrels, ensuring immediate market supply while increasing the SPR’s long-term inventory.
Bids for this solicitation are due no later than 11:00 A.M. Central Time on Monday, June 15, 2026.
For more information on the SPR, please visit DOE’s website.
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