US slated to sell $375 million of emergency reserve oil this winter

‘The U.S. government is slated to sell $375 million worth of crude oil from the country’s emergency reserve this winter after Congress passed a temporary spending bill on Friday that contained a measure authorizing the sale.
President Barack Obama’s administration has pushed Congress to approve an up to $2 billion plan for a revamp of the Strategic Petroleum Reserve, a string of heavily guarded underground salt caverns along the Gulf of Mexico filled with crude. The stash currently holds about 695 million barrels of oil.’
Read more: US slated to sell $375 million of emergency reserve oil this winter