The Biden Administration aims to restock the U.S. Strategic Petroleum Reserve to early 2022 levels by the end of the year.
The Biden Administration aims to have crude in the Strategic Petroleum Reserve SPR back up to the levels before the massive sales of 180 million barrels in the past two years, U.S. Energy Secretary Jennifer Granholm said at the CERAWeek energy conference in Houston. The U.S.
Department of Energy expects only 40 million barrels to be refilled by the end of this year, but the other 140 million barrels of crude will stay in the SPR after a cancellation of congressionally mandated sales from 2022, according to Reuters.
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