President Joe Biden’s administration plans to sell an additional 20 million barrels of oil, according to a notice of the sale filed on July 26.
Interested parties were told to submit offers to the U.S. Department of Energy by Aug. 2 to purchase the oil, with delivery slated to take place between Sept. 16 and Oct. 21.
The oil is part of the Strategic Petroleum Reserve, a U.S. government facility that holds oil in caverns in Texas and Louisiana.
Biden, a Democrat, in March authorized selling 180 million barrels of crude oil from the reserve as part of his administration’s efforts to combat soaring gas prices….