https://finance.yahoo.com/news/biden-purchase-6-million-more-
193527014.html

(Bloomberg) -- The Biden administration announced Friday it�s purchasing 6
million more barrels of crude oil for the Strategic Petroleum Reserve as
it continues to slowly refill the emergency stockpile.

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The purchases, scheduled for October and November, come as the nation�s
oil reserve is at its lowest point in 40 years following a historic 180
million barrel drawdown in the wake of Russia�s invasion of Ukraine, as
well as other releases mandated by Congress.

In all, the administration is expected to purchase a total of roughly 12
million barrels this year. The department purchased 3.2 million barrels of
oil for delivery in September at a price of about $71.98 per barrel, which
was lower than the average $95 a barrel the crude was sold for last year,
the Energy Department said.

The Energy Department said it will buy more oil for the reserve as market
conditions allow.

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