Biden Admin Sells Last Batch of Emergency Reserve Oil From Release

Written by on November 4, 2022

By Timothy Gardner and Ismail Shakil

WASHINGTON (Reuters)—The U.S. Department of Energy on Thursday said it sold 15 million barrels of oil from the Strategic Petroleum Reserve to six companies, completing the last batch of the largest-ever release from the stockpile announced by President Joe Biden in March.

The contracts were awarded to Phillips 66, Marathon Petroleum Supply and Trading LLC, Shell Trading (US), Valero Marketing and Supply, Macquarie Commodities Trading US, and Equinor Marketing and Trading, the Energy Department said in a statement. Deliveries will take place from Dec. 1 to . . .

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