Tue, Aug 1st, 2023 - 2:45pm
December 16, 2022 - 4:39pm | By Tom Tucker
(Washington, DC) -- The Biden administration is taking action to start replenishing the nation's emergency oil reserves. The Department of Energy on Friday said it will begin to refill reserves with a purchase of up to three million barrels of crude oil. Contracts will be awarded to energy companies in January with delivery by February. The administration withdrew a record 180 million barrels from the reserve after oil prices soared due to Russia's invasion of Ukraine.