Department of Energy seeks U.S.-sourced sour crude at a competitive price

  • Department of Energy issues request for up to 3 million bbl of U.S.-sourced sour crude
  • Seventh solicitation since fall to replenish Strategic Petroleum Reserve
  • Looking for supply at less than $79/bbl
  • Plenty of offers expected at under the threshold

The Department of Energy has issued a request for proposals to supply up to 3 million bbl of U.S.-sourced sour crude for delivery in May to the Strategic Petroleum Reserve. This is the seventh solicitation since the fall as the DOE continues to replenish the reserve. The department is looking for supply at a price below $79/bbl, and sources expect there to be plenty of offers below that threshold. This request follows a similar bid outstanding for a purchase in April, the results of which could be announced soon.

Public Companies:
Private Companies: undefined, undefined
Key People: Tom Kloza (Reporter), Jeff Barber (Editor)

Factuality Level: 8
Justification: The article provides factual information about the Department of Energy issuing a request for proposals to supply sour crude for the Strategic Petroleum Reserve. It also mentions previous solicitations and the maximum price the department is looking for. The article is sourced from Oil Price Information Service, which is operated by Dow Jones & Co.

Noise Level: 7
Justification: The article provides some relevant information about the Department of Energy’s request for proposals to supply sour crude for the Strategic Petroleum Reserve. However, it lacks in-depth analysis, scientific rigor, and intellectual honesty. It also does not provide any actionable insights or solutions. The article stays on topic but lacks evidence, data, or examples to support its claims. Overall, the article contains some noise and filler content.

Financial Relevance: Yes
Financial Markets Impacted: The news article pertains to the Department of Energy’s request for proposals to supply sour crude for delivery to the Strategic Petroleum Reserve. This could potentially impact the oil market and companies involved in the production and supply of sour crude.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The news article does not describe any extreme event. It focuses on the Department of Energy’s request for proposals to supply sour crude for the Strategic Petroleum Reserve.

Reported publicly: www.marketwatch.com