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The US is refilling strategic oil reserves as fast as it can amid lower prices, but there are physical limits, Energy Department official says

By Ilene
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The US is refilling strategic oil reserves as fast as it can amid lower prices, but there are physical limits, Energy Department official says

By Aruni Soni, Business Insider

The US’s emergency stockpile of oil is being refilled as oil prices slide lower, but the pace has run into a physical limit.

The Biden administration drained 180 million barrels from the Strategic Petroleum Reserve last year to stabilize prices after they spiked in the aftermath of Russia’s invasion of Ukraine. Now, 3 million barrels of oil a month are going back in.

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