{"id":9296,"date":"2023-05-16T04:57:42","date_gmt":"2023-05-16T08:57:42","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/u-s-energy-department-announces-plans-to-buy-up-to-3-million-barrels-of-crude-oil-for-the-spr\/"},"modified":"2023-05-16T04:57:43","modified_gmt":"2023-05-16T08:57:43","slug":"u-s-energy-department-announces-plans-to-buy-up-to-3-million-barrels-of-crude-oil-for-the-spr","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9296","title":{"rendered":"U.S. Energy Department announces plans to buy up to 3 million barrels of crude oil for the SPR"},"content":{"rendered":"
\n

The U.S. Energy Department announced Monday that it plans to buy up to 3 million barrels of crude oil for the nation\u2019s Strategic Petroleum Reserve. News of the planned repurchase of oil follows the historic drawdown of 180 million barrels announced by President Joe Biden in the spring of 2022. The purchases are part of the Biden-Harris administration\u2019s three-part replenishment plan, which includes direct purchases with revenues from emergency sales, exchange returns, including a premium to volume delivered, and securing legislative solutions that avoid unnecessary sales unrelated to supply disruptions, the agency said. For the week ended May 5, stocks in the SPR totaled 362 million barrels, down 2.9 million barrels for the week, according to the Energy Information Administration. The amount of oil in the SPR, which has a capacity to hold around 713 million barrels, stands at its lowest since the 1980s. June West Texas Intermediate crude
\n CLM23,
\n +0.08%<\/bg-quote>
\n traded at $71.32 a barrel in electronic trading, up from the $71.11 Nymex settlement.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. Energy Department announced Monday that it plans to buy up to 3 million barrels of crude oil for the nation\u2019s Strategic Petroleum Reserve. News of the planned repurchase of oil follows the historic drawdown of 180 million barrels announced by President Joe Biden in the spring of 2022. The purchases are part of […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-9296","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nU.S. Energy Department announces plans to buy up to 3 million barrels of crude oil for the SPR | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The U.S. Energy Department announced Monday that it plans to buy up to 3 million barrels of crude oil for the nation\u2019s Strategic Petroleum Reserve. News\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=9296\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Energy Department announces plans to buy up to 3 million barrels of crude oil for the SPR | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"The U.S. Energy Department announced Monday that it plans to buy up to 3 million barrels of crude oil for the nation\u2019s Strategic Petroleum Reserve. News\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=9296\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-16T08:57:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-16T08:57:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/MW-GP644_MicroS_ZG_20180906154215.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1320\" \/>\n\t<meta property=\"og:image:height\" content=\"742\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=9296#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=9296\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"U.S. Energy Department announces plans to buy up to 3 million barrels of crude oil for the SPR\",\"datePublished\":\"2023-05-16T08:57:42+00:00\",\"dateModified\":\"2023-05-16T08:57:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=9296\"},\"wordCount\":181,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=9296#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=9296\",\"url\":\"https:\/\/ifintechworld.com\/?p=9296\",\"name\":\"U.S. Energy Department announces plans to buy up to 3 million barrels of crude oil for the SPR | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-16T08:57:42+00:00\",\"dateModified\":\"2023-05-16T08:57:43+00:00\",\"description\":\"The U.S. Energy Department announced Monday that it plans to buy up to 3 million barrels of crude oil for the nation\u2019s Strategic Petroleum Reserve. News\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=9296#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=9296\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=9296#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"U.S. Energy Department announces plans to buy up to 3 million barrels of crude oil for the SPR\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"U.S. Energy Department announces plans to buy up to 3 million barrels of crude oil for the SPR | iFintechWorld","description":"The U.S. Energy Department announced Monday that it plans to buy up to 3 million barrels of crude oil for the nation\u2019s Strategic Petroleum Reserve. News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=9296","og_locale":"en_US","og_type":"article","og_title":"U.S. Energy Department announces plans to buy up to 3 million barrels of crude oil for the SPR | iFintechWorld","og_description":"The U.S. Energy Department announced Monday that it plans to buy up to 3 million barrels of crude oil for the nation\u2019s Strategic Petroleum Reserve. News","og_url":"https:\/\/ifintechworld.com\/?p=9296","og_site_name":"iFintechWorld","article_published_time":"2023-05-16T08:57:42+00:00","article_modified_time":"2023-05-16T08:57:43+00:00","og_image":[{"width":1320,"height":742,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/MW-GP644_MicroS_ZG_20180906154215.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=9296#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=9296"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"U.S. Energy Department announces plans to buy up to 3 million barrels of crude oil for the SPR","datePublished":"2023-05-16T08:57:42+00:00","dateModified":"2023-05-16T08:57:43+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=9296"},"wordCount":181,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=9296#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=9296","url":"https:\/\/ifintechworld.com\/?p=9296","name":"U.S. Energy Department announces plans to buy up to 3 million barrels of crude oil for the SPR | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-16T08:57:42+00:00","dateModified":"2023-05-16T08:57:43+00:00","description":"The U.S. Energy Department announced Monday that it plans to buy up to 3 million barrels of crude oil for the nation\u2019s Strategic Petroleum Reserve. News","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=9296#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=9296"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=9296#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"U.S. Energy Department announces plans to buy up to 3 million barrels of crude oil for the SPR"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/9296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9296"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/9296\/revisions"}],"predecessor-version":[{"id":9297,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/9296\/revisions\/9297"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/1383"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}