U.S. to sell additional 20 million barrels of oil from strategic reserve

Sherritt International

26/07/2022 16:00

WASHINGTON, July 26 (Reuters) - The Biden administration
said on Tuesday it will sell an additional 20 million barrels of
oil from the Strategic Petroleum Reserve as part of a previously
announced release from the facility aimed to calm petroleum
prices.
    The 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 of hollowed-out salt caverns on
the coasts of Louisiana and Texas.

 (Reporting by Timothy Gardner; Editing by Paul Simao)
 ((timothy.gardner@thomsonreuters.com; +1 202 380-8348 (Twitter
@timogard); Reuters Messaging:
timothy.gardner.thomsonreuters.com@reuters.net))