The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve (SPR) sites to be delivered between late-December and April 2022, the Department of Energy (DOE) said as it auctions oil to try to lower global prices.
International oil prices have held above $80 a barrel even after U.S. President Joe Biden’s administration announced on Tuesday it will release millions of barrels of oil from strategic reserves in coordination with Britain, China, India, South Korea, and Japan.
