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RCED-83-156 1 (1983-10-04)

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BY THE US. G                 *cO       IUNTING OFFICE cd

Report To The Chairman, Subcommittee

On Commerce, Consumer, And Monetary Affairs

Committee On Government Operations

House Of Representatives





Comparison Of Strategic Petroleum

Reserve Oil Prices And Commercial

Oil Prices


During 1 981 and 1982, the Federal Govern-
ment bought about 170 million barrels of oil
for the Strategic Petroleum Reserve through
long-term contracts and on the crude oil
spot market. This report compares the prices
that the Government paid for 150 million
barrels of this oil with the average prices oil
companies paid for the same kind of oil. It
also examines whether buying more oil
from Western Hemisphere countries could
reduce oil acquisition costs.











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GAO/RCED-83-156
OCTOBER 4, 1983


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