Biden to Drain Another 40 Million Barrels of Crude Oil From Strategic Petroleum Reserve

The U.S. Department of Energy on Tuesday said it was selling up to 40.1 million barrels of crude oil from the U.S. Strategic Petroleum Reserve as part of a previous announcement by the administration.

The sale is part of President Joe Biden’s March 31 announcement to release crude oil from the reserve to combat rising energy prices, the department said in a statement.

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