Feds to buy 5 million barrels of oil for emergency stockpile
The planned purchase of sweet crude between June 1 and July 31 is required by federal laws forcing the Department of Energy to buy back petroleum products within one year, using the proceeds from a...
View ArticleMoniz says Strategic Petroleum Reserve could be tapped to control price shocks
Moniz said rising U.S. crude production gives the nation more flexibility in how it uses the reserve, created four decades ago in response to supply shortfalls caused by the Arab oil embargo. The four...
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