The U.S. is holding its largest sale of oil from strategic reserves this year at a time when the outlook for fuel demand is darkening amid the resurgent Covid-19 virus.
The Energy Department plans to auction off 20 million barrels of crude, twice as much as it offered for sale 3 1/2 months ago. The oil will be delivered during the fourth quarter, when U.S. demand for gasoline and other fuels typically falters and refineries slow down oil purchases while they shut down equipment for repairs and maintenance.
"Oil" - Google News
August 24, 2021 at 12:01AM
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U.S. Holds This Year's Largest Sale of Strategic Oil Reserves - Bloomberg
"Oil" - Google News
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