The United States will take bids this fall to buy back 60 million barrels of crude oil for the U.S. Strategic Petroleum Reserve, the first step in replenishing the stockpile after a record-sized release this spring, the Department of Energy said. The administration of U.S. President Joe Biden had announced on March 31 a release of a record 180 million barrels from the stockpile to help tame runaway energy prices, soaring since the Russian invasion of Ukraine. “As we are thoughtful and methodical in the decision to drawdown from our emergency reserve, we must be similarly strategic in replenishing the supply so that it stands ready to deliver on its mission to provide relief when needed most,” said U.S. Secretary of Energy Jennifer […]