WASHINGTON, (Reuters) – The U.S. Department of Energy has approved the twelfth exchange of 2,700,000 barrels of crude oil for release to ExxonMobil Corp (XOM.N) from the nation’s Strategic Petroleum Reserve, the department said in a statement on Monday.
The move was part of the Biden administration’s approval for such releases authorized in November 2021 as part of a larger effort to boost the U.S. fuel supply, it added.
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