A proposed U.S. House budget bill earmarks over $1.5 billion to replenish and maintain the Strategic Petroleum Reserve (SPR), offering a potential lifeline to energy security and domestic producers.
The plan, released Sunday by the Republican-led House Energy and Commerce Committee, includes $1.32 billion to buy oil for the SPR and $218 million for upkeep. The measure also cancels a congressionally mandated sale of 7 million barrels of crude through 2027, reversing earlier requirements that could have drained the reserve even further.
If approved, the legislation would boost efforts to refill the world’s largest emergency crude stockpile, which was heavily drawn down in 2022 after Russia’s invasion of Ukraine. That year, President Joe Biden authorized a record release of 180 million barrels, bringing SPR levels to their lowest in four decades.
As of May 2025, the SPR holds about 399 million barrels, well below its 727 million-barrel capacity.
U.S. Energy Secretary Chris Wright estimated in March that achieving the Trump-era goal of fully refilling the SPR could cost $20 billion and take years, especially amid volatile oil markets.
The SPR funding is part of a broader Republican effort to reshape Biden’s landmark Inflation Reduction Act by slashing green energy grants and loan programs. The GOP’s stance signals a shift back toward traditional energy security and fossil fuel reliance.
In a parallel move, the Department of Energy (DOE) on Monday proposed a rule change to allow SPR oil purchases based on indexed market prices rather than fixed contracts. The new method would offer flexibility as oil prices fluctuate, replacing the Biden administration’s fixed-price approach used to expedite earlier oil buys.
The DOE stated that fixed pricing “only served to unnecessarily create confusion in the industry.” The proposed rule will take effect in 60 days unless it receives significant objections during the comment period.
The budget measure is scheduled for a committee vote on Tuesday.
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