The first batch of 86 million barrels of strategic crude oil in the United States will be released to the market using the borrow-and-repay premium model.

BlockBeats News, March 15th. On the 13th, the U.S. Department of Energy issued an invitation to bid for the allocation of crude oil from the strategic petroleum reserve. The first batch of allocated 86 million barrels of crude oil is expected to enter the market by the end of next weekend. According to the document, participating companies are required to return the borrowed crude oil to the U.S. Department of Energy and additionally return a certain amount of crude oil as a premium. The document states that this approach can both replenish the U.S. strategic petroleum reserve and stabilize the market. The U.S. government also stated its plan to replenish approximately 200 million barrels of the strategic petroleum reserve in the next year to maintain U.S. energy security. Data from the U.S. Energy Information Administration shows that as of the 6th of this month, the U.S. strategic petroleum reserve stands at 415.4 million barrels. (Finance Associated Press)