Biden Administration begins to replenish oil reserves

(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.