{"id":595204,"date":"2023-08-02T09:58:02","date_gmt":"2023-08-02T04:28:02","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=595204"},"modified":"2023-08-02T11:20:10","modified_gmt":"2023-08-02T05:50:10","slug":"us-pulls-back-offer-to-buy-6-mn-barrels-of-oil-for-emergency-reserve","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/us-pulls-back-offer-to-buy-6-mn-barrels-of-oil-for-emergency-reserve\/","title":{"rendered":"US pulls back offer to buy 6 mn barrels of oil for emergency reserve"},"content":{"rendered":"<p>The Biden administration has pulled an offer to buy 6 million barrels of oil for the Strategic Petroleum Reserve, an Energy Department spokesperson said on Tuesday, as oil prices are expected to keep rising after a output cut from Saudi Arabia.<\/p>\n<p>The U.S. made the latest solicitation to buy the sour crude oil for the SPR on July 7. After the administration released a record 180 million barrels from the reserve last year to control prices after Russia&#8217;s invasion of Ukraine, the Energy Department has bought back 6.3 million barrels in recent months.<\/p>\n<p>The move was not a rejection of oil companies&#8217; offers to sell oil to the SPR but a decision made on &#8220;market conditions,&#8221; the spokesperson said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration has pulled an offer to buy 6 million barrels of oil for the Strategic Petroleum Reserve, an Energy Department spokesperson said on Tuesday, as oil prices are expected to keep rising after a output cut from Saudi Arabia. The U.S. made the latest solicitation to buy the sour crude oil for the SPR on July 7. After the administration released a record 180 million barrels from the reserve last year to control prices after Russia&#8217;s invasion of Ukraine, the Energy Department has bought back 6.3 million barrels in recent months. The move was not a rejection of [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[175,146,130],"tags":[],"class_list":["post-595204","post","type-post","status-publish","format-standard","hentry","category-coal-deccan-herald-newspapers","category-deccan-herald-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/595204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=595204"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/595204\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=595204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=595204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=595204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}