oil reserves News Updates

Government, Business, Fuel

Energy Chief Plans to Seek $20 Billion to Refill Oil Reserve

Energy Secretary Chris Wright plans to seek up to $20 billion to accomplish President Donald Trump’s goal of refilling the nation’s depleted oil reserve to its maximum capacity.

March 7, 2025
Government, Business, Fuel

Biden Administration Buys Nearly 5 Million Barrels of Oil

The Biden administration announced July 29 it has purchased 4.65 million barrels of crude oil for the nation’s emergency cache as it continues refilling the depleted reserve.

July 29, 2024
Government, Business, Fuel

US Cancels Latest Oil Reserve Refill Plan Amid High Prices

The Biden administration won’t move forward with its latest plans to buy oil for the Strategic Petroleum Reserve amid rising prices.

April 3, 2024
Government, Business, Fuel

US Buys 2.8 Million Barrels of Oil for Strategic Reserve

The U.S. purchased 2.8 million barrels of crude for the nation’s emergency oil cache as it seeks to replenish depleted supplies.

March 28, 2024
Government, Fuel

Strategic Oil Reserve Refill Is Limited Despite Low Prices

The Biden administration may not be able to take full advantage of the recent drop in oil prices as it seeks to refill its depleted crude oil reserve, an Energy Department official said Dec. 4.

December 4, 2023
Government, Business, Fuel

Plan to Restock Emergency Oil Reserve Put on Hold

WASHINGTON — The Biden administration is delaying plans to restock the nation’s emergency oil reserve amid a price hike that has pushed oil above $80 a barrel.

August 2, 2023
Government, Fuel

US to Buy 6 Million Barrels of Oil for Emergency Reserve

The Biden administration announced July 7 that it is purchasing 6 million barrels of crude oil for the Strategic Petroleum Reserve as it continues to slowly refill the emergency stockpile.

July 10, 2023
Government, Fuel

US to Buy 3 Million Barrels of Oil for Reserve in August

The U.S. is soliciting bids for up to 3 million barrels of sour crude oil to refill its depleted Strategic Petroleum Reserve in August.

May 16, 2023
Government, Fuel

Biden Adviser Says US Won’t Rush to Fill Petroleum Reserve

The U.S. is committed to replenishing the Strategic Petroleum Reserve but won’t rush to do so despite the recent decline in oil prices, Biden administration adviser Amos Hochstein said.

March 17, 2023
Government, Fuel

House Republicans Seek New Restrictions on Use of Oil Stockpile

WASHINGTON — For the second time this January, House Republicans have advanced a measure to restrict presidential use of the nation’s emergency oil stockpile.

January 30, 2023