The United States administration plans to purchase up to 2025 million barrels of oil for delivery in the first months of 6 to replenish the country’s strategic reserve.
According to the Report, this news was quoted by Reuters.
According to its source, US officials could announce the tender as early as 18 September. The crude oil is planned to be placed in a storage facility in the state of Louisiana, one of four carefully guarded sites in the US designed to store the strategic oil reserve.
The agency notes that if the deal is successful, this purchase could be the largest addition to the country’s reserve since 2022.
US President Joe Biden signed a decree at the end of March 2022 requiring the Department of Energy to sell one million barrels of oil per day from the strategic reserve for 180 days to lower oil prices in the country. The ministry uses the proceeds from this crude oil sale to purchase energy and replenish the oil reserve.
