The DOE Rejected Every Bid To Resupply The Strategic Petroleum Reserves

The DOE Rejected Every Bid To Resupply The Strategic Petroleum Reserves

The DOE was set to purchase 3 million barrels of oil to start replenishing the Strategic Petroleum Reserves in February, but they rejected every bid submitted. Could this signal more risk of shortages in the coming year?

SOURCE: https://www.reuters.com/business/energy/us-department-energy-says-rejects-initial-bids-resupply-oil-stockpile-2023-01-08/

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