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US to Buy Oil for Strategic Reserve Monthly Through at Least May - Bloomberg

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US to Buy Oil for Strategic Petroleum Reserve (SPR) Monthly Through at Least May - Bloomberg

US to Buy Oil for Strategic Reserve Monthly Through at Least May

- Energy Department solicited 3 million barrels for March
- Government has purchased close to 9 million barrels this year

The US plans to hold monthly tenders to buy oil for its strategic petroleum reserve through at least May as the Biden administration moves ahead with plans to refill the caverns that currently sit near the lowest levels in 40 years.

The energy department on Friday issued a solicitation to buy as much as 3 million barrels of sour oil for delivery in March, according to a statement. That comes on top of a previous tender to buy the same amount for February.

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US to Buy Oil for Strategic Reserve Monthly Through at Least May

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