DOE Approves Release of Crude Oil from Strategic Reserves to Shell

Combined, the U.S. Energy Department has provided about 8 million barrels of crude oil from the Strategic Petroleum Reserve to boost the nation’s fuel supply.

Reuters

The U.S. Energy Department said it has approved a fourth exchange of 870,000 barrels of crude oil for release to Shell Trading (US) Co. from the Strategic Petroleum Reserve (SPR).

Combined, the Energy Department has provided about 8 million barrels of SPR crude oil to boost the nation’s fuel supply, including three previous exchanges awarded last month, the department said in a statement on Jan. 12.

Late in December, the department had approved a release of 2 million barrels of crude oil to Exxon Mobil Corp.

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