U.S. to sell up to 45 mln bbls oil from reserve as part of historic release

WASHINGTON, June 14 (Reuters) – The U.S. Department of Energy on Tuesday said it was selling up to 45 million barrels of oil from the Strategic Petroleum Reserve as part of the Biden administration’s previously announced,largest-ever release from the stockpile.

Deliveries of crude from the SPR sale would take place from Aug. 16 through Sept. 30, the Energy Department said.

The Biden administration said in late March it would release a record 1 million barrels of oil per day of oil for six months from the SPR, held in a series hollowed-out salt caverns on the coasts of Louisiana and Texas.


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