U.S. Seeks to Buy About 3 Million Barrels of Oil for SPR for June Delivery

The United States is seeking to buy about 3 million barrels of U.S.-produced sour crude for the Strategic Petroleum Reserve for delivery in June, Department of Energy documents showed on Tuesday.

The administration of President Joe Biden is slowly replenishing the emergency stash after selling 180 million barrels in 2022 following Russia’s invasion of Ukraine. So far it has bought back more than 20 million barrels and stopped congressionally-mandated sales of about 140 million barrels through 2027.

(Reporting by Eric Beech and Timothy Gardner Editing by Chris Reese)