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BREAKING NEWS:

US Drillers Add Rigs for Fourth Time in Five Weeks, Says Baker Hughes

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U.S. to sell up to 10 mln bbls of oil from emergency reserve for November delivery

September 20, 2022 EnergyNow Media

The U.S. Energy Department said on Monday it will sell up to 10 million barrels of oil from the Strategic Petroleum Reserve, for delivery in November, extending the timing of a plan to sell 180 million barrels from the stockpile to tame petroleum prices.

President Joe Biden’s plan announced in March had aimed to sell 180 million barrels by the end of October. So far only 155 million barrels have been sold and the next sale will bring the total to 165 million barrels, the department said.

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