Today: Saturday, 4 February 2023 year

US plans to stock up on oil

US plans to stock up on oil

The United States intends to purchase oil to replenish strategic reserves, according to a document from the country’s Energy Ministry.
Deliveries are scheduled for February next year.

The Department of Energy, Strategic Petroleum Reserve Management Office (SPRPMO) has a requirement to purchase up to three million barrels of United States-produced sour crude oil.

The purchase of oil for strategic reserves will be the first since the start of their use in 2022. The administration of President Joe Biden tried in this way to stabilize prices in the market.