U.S. Seeks Up to 6 Million Barrels of Oil for Strategic Reserve

The U.S. is seeking to buy up to 6 million barrels of oil to help replenish the Strategic Petroleum Reserve after a historic sale from the facility in 2022, the Energy Department said on Wednesday.

Reuters reported exclusively this week that the solicitation would take place on Wednesday as the administration of President Joe Biden buys oil for the SPR while prices are relatively low.