The U.S. is seeking to buy about 3.6 million barrels of domestically produced crude oil to help replenish the Strategic Petroleum Reserve, a Department of Energy document said on Monday.
The sour crude, or oil relatively high in sulphur, would be for delivery in January through March of 2025 to the reserve’s Bryan Mound site in Texas. The department is slowly buying back oil for the reserve after it sold a record amount from the SPR in 2022 following Russia’s invasion of Ukraine.
Source: Reuters (Reporting by Timothy Gardner)