U.S. authorizes up to 4 million barrels in emergency SPR exchange
The Energy Department approved exchanges of up to 2 million barrels each for ExxonMobil and BP America to address weather-related Gulf supply disruptions.
Event / data period: 2026-10-10
Published: · Updated:
The U.S. Department of Energy on October 10 authorized an emergency exchange of up to 4 million barrels of crude oil from the Strategic Petroleum Reserve. The department said the action was intended to address supply disruptions caused by severe weather in the Gulf of America. It authorized exchanges of up to 2 million barrels each for ExxonMobil and BP America.
The companies are to return the borrowed crude in 2027 with additional premium barrels; DOE said the exchanges would replenish the reserve at no additional cost to taxpayers. ExxonMobil’s exchange will accelerate deliveries of crude previously awarded from the SPR, according to the department. The authorization sets a ceiling for an emergency exchange; the release does not say that the full volume was drawn or that the disruptions were fully resolved.
Data
Authorized emergency reserve exchange
DOE emergency crude-oil exchange announcement of October 10, 2026.
- · Occurred
Exchange authorized for up to 4 million barrels
Up to 2 million barrels each for ExxonMobil and BP America.
Methodology
These are authorization ceilings stated by the source, not evidence of actual withdrawals or deliveries.
Updated:
Subjects and places
Subject proposals
- Oil and gasSuggested
- Subject suggested from the title or summary: barrelswww.energy.gov ↗
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