America buys 2.5 million barrels of oil for the strategic reserve Al Khaleej Newspaper

The US Department of Energy said: The United States has purchased nearly 2.5 million barrels of oil to help replenish the Strategic Petroleum Reserve following the largest-ever withdrawal from the emergency reserve in 2022.
She said about 800,000 barrels per month of high-protein crude oil will be delivered to the reserve site in Bryan Mound, Texas, between January and March next year.
The ministry said the contract to buy oil worth more than $180.3 million was awarded to Macquarie Commodities Trading.
The ministry said on August 12 that it plans to buy up to 6 million barrels at a rate of two million barrels per month from January to March. They did not immediately respond to a question about whether the remaining 3.5 million barrels could be purchased for the Bryan Mound site for delivery during that time.
President Joe Biden’s administration is working to slowly replenish the reserve after selling 180 million barrels from the facility in 2022 to control gasoline prices.
The Department of Energy said the administration has so far bought back more than 47 million barrels, at an average price of $76.89 a barrel, which is about $18 less than the average price of $95 a barrel at which it sold they oil in 2022.
(Reuters)