The federal government plans to buy some 12 million barrels as part of efforts to refill the strategic petroleum reserve after drawing down more than 200 million barrels from it last year. This is according to an unnamed source that spoke to Reuters and that also suggested total purchases this year could exceed 12 million barrels. Earlier this month, the Department of Energy announced it had bought 3 million barrels of crude for the strategic petroleum reserve and planned to buy another 3 million. "These 3 million barrels are being purchased for…
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