US DOE kicks off SPR replenishment with plan to buy back 3 million barrels

 In In the News
The US Department of Energy Dec. 16 announced plans for its first repurchase of oil to begin replenishing the Strategic Petroleum Reserve following an unprecedented 180-million-barrel release over several months to combat energy price hikes spurred by Russia’s invasion of Ukraine. The DOE issued a solicitation for up to 3 million barrels of sour crude for delivery in February to…