The Department of Energy issued a request for proposal on September 29, 2026, to exchange up to 40 million barrels of crude oil from the Strategic Petroleum Reserve, the latest step in an energy policy that has moved reserve barrels into the market since President Trump ordered a 172-million-barrel release, part of a 400-million-barrel commitment among International Energy Agency member nations.
DOE said it has advanced a series of large-scale SPR exchange solicitations at record speed, moving crude supplies into the market to address short-term supply disruptions and support energy security for the United States and its allies.
Energy Secretary Chris Wright said "the United States continues to lead the coordinated efforts to stabilize oil markets." He said the United States and Japan are delivering on their commitments, while several European member countries have released only a fraction of the crude oil and petroleum products they pledged, and he urged every member country to fulfill its commitments. Wright said the exchanges will also keep the reserve refilling while saving taxpayers more than $3 billion.
Where the barrels come from
The crude for this exchange will come from the SPR's Big Hill and Bryan Mound sites. This RFP builds on five previous solicitations that together awarded more than 133 million barrels across four completed exchanges. Those earlier exchanges returned barrels to the reserve at a 25 percent premium, expanding its holdings.
How the exchange works
Under DOE's exchange authority, the companies that win barrels in this round will later return the 40 million barrels they borrow, plus additional premium barrels. That structure puts crude into the market immediately while adding to the reserve's long-term inventory, at no cost to taxpayers. Deliveries under exchanges already awarded are scheduled for November and December 2026.
Bid deadline
Bids on this solicitation are due by 11:00 a.m. Central time on Tuesday, October 6, 2026.
