The U.S. Department of Energy has announced a solicitation for up to 3.3 million barrels of oil to replenish the Strategic Petroleum Reserve (SPR) in response to recent market conditions. Adviser Amos Hochstein affirmed that the Biden administration monitors oil markets and maintains that the current reserves are sufficient to address any supply concerns. The replenishment, scheduled for delivery in October, aligns with the administration's strategy to capitalize on lower oil prices to restore the depleted emergency oil cache. Additionally, the administration is prepared to use the SPR again if oil prices rise.
The Biden administration is taking advantage of a dip in oil prices to restart plans to refill its depleted emergency oil cache https://t.co/p7Z6GRNhBB
Biden Ready To Use SPR Again If Oil Prices Rise https://t.co/TmONDgYwwp
Today, the U.S. Department of Energy’s (DOE) Office of Petroleum Reserves announced a solicitation for up to 3.3 million barrels of oil for delivery to the Strategic Petroleum Reserve (SPR) in October. #oott https://t.co/f3WrgLKT8e
The Biden administration is taking advantage of a dip in oil prices to restart plans to refill its depleted emergency oil cache. https://t.co/XUMWFm0mLC
US ENERGY DEPT. SEEKS 3.3M BARRELS FOR STRATEGIC OIL RESERVE - BBG
U.S. ENERGY DEPARTMENT ANNOUNCES SOLICITATION FOR UP TO 3.3. MLN BBLS OF OIL FOR STRATEGIC PETROLEUM RESERVE REPLENISHMENT -STATEMENT
US ENERGY DEPARTMENT ANNOUNCES SOLICITATION FOR UP TO 3.3 MLN BBLS OF OIL FOR STRATEGIC PETROLEUM RESERVE REPLENISHMENT - STATEMENT.
US HAS SUFFICIENT SUPPLY IN STRATEGIC PETROLEUM RESERVE TO ADDRESS ANY SUPPLY CONCERNS, BIDEN ADMINISTRATION MONITORING MARKETS, ADVISER AMOS HOCHSTEIN SAYS not true
US HAS SUFFICIENT SUPPLY IN STRATEGIC PETROLEUM RESERVE TO ADDRESS ANY SUPPLY CONCERNS, BIDEN ADMINISTRATION MONITORING MARKETS, ADVISER AMOS HOCHSTEIN SAYS